RIL sets up JV with ONGC, BP for exploration off western coast

Reliance Industries Ltd. (RIL) has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Ltd. (ONGC) and BP Exploration (Alpha) Ltd. (BP) for the exploration Block GS-OSHP-2022/2 (Block).

This Block located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy. The parties will pursue exploration operation in the Block pursuant to the terms of award of the Block, RIL said in a statement.