BP and Reliance agree on mammoth India partnership

British Petroleum agrees to invest up to $20 billion in India in partnership with Reliance Industries. The deal catapults advisers Goldman Sachs and Morgan Stanley to the top of the India league tables.

British Petroleum BP and Reliance Industries have announced a two-pronged partnership that will see BP take a 30% stake in select Reliance oil and gas fields in India, while the two companies will also create a jointly owned sourcing and marketing company. The total outlay for BP will be up to $20 billion.

BP will acquire 30% of 23 oil and gas production sharing contracts, covering approximately 270,000 square kilometres, that India’s largest private-sector company operates in its home country. The two companies will also form a 5050 joint venture for the sourcing and marketing of gas in India. The JV will work towards creating the infrastructure for receiving, transporting and marketing of...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222