BG, partners increase gas output from India fields
Sunday, 7 October 2007
MUMBAI, Oct 6 (Bloomberg): BG Group Plc, the UK's third biggest natural-gas producer, and its partners have boosted gas output from fields off western India by 48 per cent to feed the nation's growing demand for energy.
Gas output from the Panna, Mukta and Tapti fields has risen to 17 million cubic meters a day, Oil Minister Murli Deora told reporters today in Mumbai, without specifying a time frame. The companies involved have spent $500 million to increase output, they said in a statement.
BG and Reliance Industries Ltd., India's biggest company by market value, each own 30 per cent stakes in the area. Oil & Natural Gas Corp., the country's largest explorer, holds the rest. The partners may spend about $1 billion to increase gas and oil output from the fields over five years, William Adamson, BG India managing director, said on March 2.
Gas output from the Panna, Mukta and Tapti fields has risen to 17 million cubic meters a day, Oil Minister Murli Deora told reporters today in Mumbai, without specifying a time frame. The companies involved have spent $500 million to increase output, they said in a statement.
BG and Reliance Industries Ltd., India's biggest company by market value, each own 30 per cent stakes in the area. Oil & Natural Gas Corp., the country's largest explorer, holds the rest. The partners may spend about $1 billion to increase gas and oil output from the fields over five years, William Adamson, BG India managing director, said on March 2.