British Gas to invest $1 bn in oil search
BG India, a part of the British Gas group, plans to invest $1b in exploration business in 2-3 years. “We have plans to invest $1 billion in exploration in India.
By PTI |
MUMBAI: BG India, a part of the British Gas group, plans to invest $1b in exploration business in 2-3 years. ���We have plans to invest $1 billion in exploration in India. We are into full gas chain, both upstream and downstream, and our intent would be to expand in India,��� BG India managing director Kapil Garg said on the sidelines of a conference to inaugurate British Gas Petroleum Geosciences Lab at the Indian Institute of Technology (IIT).
India is one of BG Group���s six core geographic areas of operation. BG India is responsible for managing and developing the upstream and downstream interests of the BG Group in India.It is the largest investing foreign company in the Indian oil and gas sector, having invested approximately $900 million to date.
���We have a presence in the west and east coast in oil exploration activities,��� Mr Garg said. India needs nearly $300 billion investment for exploration of hydrocarbon.
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