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British Gas to up India investment
The Panna-Mukta-Tapti oil and gas fields off Mumbai's coast are vital to British Gas India, which operates them with RIL and ONGC. BG India will invest more than USD 900 million in them, reports CNBC-TV18.
The Panna-Mukta-Tapti oil and gas fields off Mumbai's coast are vital to British Gas India, which operates them with RIL and ONGC . BG India will invest more than USD 900 million in them, reports CNBC-TV18.
British Gas India has big plans for the Panna-Mukta-Tapti oil and gas fields. In 2002 it bought 30% from Enron in the fields for USD 350 million. Today they are a significant part of its Indian operations.
MD, British Gas Exploration and Production India, Kapil Garg says, "When we took over this field from Enron, the production was about 20,000-22,000 barrels per day. Today we produce about 40,000 bpd."
Gas output is also up, to 400 million cubic feet a day, from 250. That's 8% of India's hydrocarbon production. By 2008, BG plans to raise oil production to 50,000 barrels a day and gas production to 600 million cubic feet. It hopes to maintain this level until its concession agreement ends in 2019. That means more investment.
MD, British Gas Exploration and Production India, Kapil Garg says, "When we took over this field from Enron, the production was about 20,000-22,000 barrels per day. Today we produce about 40,000 bpd." 
