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Reliance Industries has awarded subsea contracts to oil and gas company TechnipFMC for its deepwater MJ1 gas field in India.
TechnipFMC did not disclose the exact values of the contracts but indicated that their total will be in the range $75m to $250m.
The MJ1 field is situated in the Krishna Godavari basin in water depths ranging between 1,000m and 1,200m. It will be connected to a new floating production storage and offloading facility.
TechnipFMC president for subsea Arnaud Pieton said: “We are very honored to be associated with this prestigious natural gas project leading to further value creation. These awards confirm the trust we have built over the long term with Reliance along the oil and gas value chain, reflecting both our commitment to the Indian market and our leadership in the energy transition domain, through subsea gas projects.”
In June 2019, Reliance Industries and its partner BP announced the sanction of the MJ project, also known as D55, in Block KG D6 offshore the east coast of India. MJ is the third of three new projects in the Block KG D6 integrated development plan. Together, the three projects are expected to develop a total of around 3 trillion cubic feet of discovered gas resources with a total investment of $5bn.
When fully developed, the projects are anticipated to bring about 1 billion cubic feet a day of new domestic gas on stream, phased over 2020 to 2022.
India seeks to double natural gas consumption by 2022 from the current value of 5 billion cubic feet a day. Gas production from the KG D6 integrated development is anticipated to help reduce India’s import reliance and amount to more than 10% of the country’s projected gas demand in 2022.
-----The news is quoted from Offshore Technology