Home » RIL, BP to invest Rs 800 cr in Tamil Nadu

RIL, BP to invest Rs 800 cr in Tamil Nadu

Oil & Gas
July 1, 2014July 1, 2014
RIL, BP to invest Rs 800 cr in Tamil Nadu
Shares

RIL, along with its partner British Petroleum, plans to invest about Rs 800 crore to carry out exploratory drilling in an offshore block in the Bay of Bengal. RIL is the operator of the offshore block CY-DWN-2001/2, also known as CY-III-D5, with 70 per cent equity, while BP holds the remaining stake. Thus, of the total Rs 800-crore investment, BP’s contribution would be Rs 240 crore. The block is off the east coast of India between Puducherry and Karaikal off Tamil Nadu.

Leave a Reply