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RIL-BP JV incorporated as India Gas Solutions

Saturday 19th Nov 2011 1336

New Delhi : Reliance Industries (RIL) and UK's BP today announced incorporation of India Gas Solutions, a 50:50 joint venture company for sourcing and marketing of natural gas in India.

The joint venture is part of the agreement reached in February where BP picked up 30% stake in 23 oil and gas blocks of RIL, including the showpiece KG-D6 gas fields.

The joint venture company will also develop infrastructure to accelerate transportation and marketing of natural gas within the country," the two firms said in identical press statements.

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