BG Exploration and Production India Limited (BGEPIL) has a 45% interest in the block, located in the Krishna Godavari Basin, while partner Oil and Natural Gas Corporation Limited (ONGC) will hold a 55% interest and operator rights.
William Adamson, managing director of BG India, said: This award adds to our current portfolio of upstream assets and marks the beginning of BG India’s diversification into a new and growing hydrocarbon region on the East coast. The Krishna Godavari Basin is an important gas province and, along with ONGC, we look forward to participating in its development.
The shallow water block, which covers an area of approximately 1,150 square kilometers, is located off the East coast of India.
