BP pitches for infra sharing with cos like ONGC; sanctity of contract
Ahead of starting the next wave of gas production from the KG basin, UK-based supermajor BP Plc has pitched for oil and gas producers sharing their infrastructure to help cut costs and monetise small and marginal discoveries.
BP, which in partnership with Reliance Industries Ltd is investing USD 5 billion in developing three sets of discoveries in the Krishna Godavari basin block KG-D6, also wanted sanctity of contracts to be honoured and policy stability.
Speaking at the India Energy Forum of CERAWeek, BP’s India head Sashi Mukundan said policy and decision making must support raising domestic oil and gas production by adopting best international practices. He also made a case for offering incentives for doing better than targeted production rather than imposing penalties.
