Reliance Industries and BP secure deepwater block
By NS Admin Published 30 November 1999The block is located 40km off the east coast near Kakinada, Andhra Pradesh, and spread over an area of 1,949sqkm and is about 100km away from the existing deep water discoveries in the Krishna-Godavari (KG) basin. During the first phase of exploration, the consortium will conduct detailed 2D and 3D seismic surveys and reprocess existing seismic data. Based on an analysis of survey results further work program will be decided. PMS Prasad, Reliance Industries's president and CEO of petroleum business, said: "The joint venture consortium synergizes world class talent, skills, innovation, technology and project management capabilities in deep water exploration and production and Reliance is looking forward to working with BP in exploring this block awarded under new exploration licensing policy VII."
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