Reliance Industries, BP to invest Rs 40,000 crore in Jointly Owned Gas Block

At Rs 100.90 per share at 1112 hours IST on BSE, Dolphin Offshore Enterprises was trading higher by 11.1%. The stock witnessed a spurt in the volume by more than 16.16 times. Aban Offshore also witnessed a surge in its share price by 7.5%, to Rs 187 per share.
 
GOL offshore was also trading higher by 19.8% at Rs 15.49 per share. It surged the most among other offshore companies. The stock witnessed a spurt in the volume by more than 12.26 times. It also breached its upper circuit at Rs 15.50.
 
Hindustan Oil Exploration Company was trading higher by 4.4% at Rs 74.45 per share.Jindal Drilling Industries was up by 16.3% at Rs 165.15 per share. The stock witnessed a spurt in the volume by more than 30.94 times. Oil Country was up by 16.7% at Rs 53 per share.
 
On Thursday,the heads of Reliance Industries and BP announced that they will invest a further Rs 40,000 crore ($6.2 billion) in their jointly owned KG D6 gas block off India's eastern coast. It will enable India's gradual migration to a gas-based economy.The investment is expected to produce 30 to 35 million cubic metres of gas a day, phased over 2020 to 2022.