The 21 oil and gas blocks, including the producing KG D6 block, cover about 220,000 sq km and lie in water depths ranging from 400m to over 3,000m.
The KG D6 block currently produces approximately 1.6 billion cubic feet of gas per day.
RIL will remain operator of the PSCs, and the two companies will also form a 50:50 joint venture for the sourcing and marketing of gas in India.
BP said it will pay $7.2bn to RIL, subject to completion adjustments, for the stake acquisition, and further performance payments of up to $1.8bn could be paid based on exploration success that results in development of commercial discoveries.
