BP seals Indian joint venture deal

BP is setting up a joint venture with Indian energy company Reliance Industries to source and market natural gas in India, the companies have announced.

The joint venture, India Gas Solutions (IGS), will also develop infrastructure for transporting gas in the country.

IGS will take over contracts for supply from the KG D6 block off the east coast of India.

The company will start with 30 employees from the two firms and a board of six with both companies equally represented.

Plans for the venture had first been announced in February.