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(BP) -- Reliance Industries Limited and BP
today announced a historic partnership between the two companies. Mukesh
Ambani, Chairman and Managing Director of Reliance Industries Limited, and
Robert Dudley, BP Group Chief Executive, signed the relationship framework and
transactional greements in London.
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, including the 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. The joint venture will also endeavour to accelerate the creation of
infrastructure for receiving, transporting and marketing of natural gas in
India.
The partnership will combine BP’s world-class deepwater exploration and
development capabilities with Reliance’s project management and operations
expertise.
mrcplast.com
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