Reliance Industries Limited (RIL) and BP joint venture

Reliance Industries

Image via Wikipedia

Mukesh Ambani led Reliance Industries Ltd (RIL) has signed a joint venture (JV) with British Petroleum (BP).

According to the press statement, British Petroleum will get 30% stake in the 23 oil and gas blocks including the KG-D6 oil fields of Reliance Industries.

The total valuation of the deal is 9 billion dollars.

It has also been one of the biggest Foreign Direct Investments (FDI) in India.

British Petroleum and Reliance Industries Ltd will also form a 50:50 joint venture for marketing and sourcing of gas in India.
The expertise of Reliance Industries Limited is in project management and operations. British Petroleum brings to the table its expertise in deep water exploration and development.

The 23 oil and gas blocks together cover approximately 270,000 square kilometres.

The deal is very significant and is being viewed as positive sign for for the company Reliance Industries Limited.

The strategic part of the deal is that it covers the entire value chain from sourcing to marketing.

Mukesh Ambani’s RIL signs $9 billion deal with BP – NDTV Profit.

Advertisements

About speakindia
Speak India is a medium to foster debate on current issues concerning the "Aam Admi". Feel free to comment and share your point of view on Speak India.

2 Responses to Reliance Industries Limited (RIL) and BP joint venture

  1. sc says:

    The blog is really nice one and full of information we appreciate the kind of information you have provided in this post.

  2. Mumbai Feb 21 Reliance Industries Limited RIL have signed a deal with oil major British Petroleum BP on Monday Feb 21. This is believed to be a great move made by RIL chief Mukesh Ambani and BP CEO Bob Dudley.The spokesperson of RIL stated The partnership will combine BPs world-class deep-water exploration and development capabilities with Reliances project management and operations expertise. In a further statement the company also informed The partnership across the full value chain comprises BP taking a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India and the statement also continued This includes producing KG D6 block and the formation of a 50 50 joint venture between the two companies for the sourcing and marketing of gas in India. Meanwhile Mr Ambani stated We are delighted to partner with BP one of the largest energy majors and one of the finest deep water exploration companies in the world.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: