INDIA’S Reliance Industries Ltd (RIL) and British Petroleum (BP) said today (11) they would collectively develop their third project, a deepwater gas field offshore the east coast of India.
The crude oil giants sanctioned the development of two other projects in the last 24 months.
MJ is the third of three new projects in the Block KG D6 integrated development plan.
Together the three projects are expected to develop a total of about three trillion cubic feet (tcf) of discovered gas resources with a total investment of circa $5 billion.
These projects together, when fully developed, will bring about one billion cubic feet a day of new domestic gas on stream, phased over 2020-2022.
Mukesh Ambani, chairman and managing director of RIL, said: “Bringing these three discoveries to production, as promised in 2017, by leveraging the existing infrastructure has been the primary objective of the Reliance-BP Joint Venture. The gas will satiate the increasing demand for clean fuel in the country, save foreign exchange and reduce dependency on imported gas…”
MJ is a gas condensate field and is the third field under development as part of the KG D6 integrated development campaign. The project is in 700-1100 metres water depth, with a well depth of 4200 metres below mean sea-level in a high-temperature and pressure environment.
It comprises of wells connected to subsea production, with tie-back to floating production storage and offloading (FPSO) vessel to process and separate liquids, and gas which will be exported to the onshore terminal through one of the existing 24-inch trunk pipelines.
The project is expected to begin production in mid-2022.
India today consumes over five billion cubic feet a day of natural gas and aspires to double gas consumption by 2022.
Gas production from KG D6 integrated development is expected to help reduce India’s import dependence and amount to over 10 per cent of the country’s projected gas demand in 2022; benefiting India and domestic consumers at large.