- Satellite Cluster field comes onstream two months ahead of schedule despite Covid-19 challenges
- Second in trio of developments together expected to meet~15% of India’s gas demand
By IOP Bureau
Mumbai, 26th April 2021:
Reliance Industries Limited (RIL), India’s largest private sector company and bp, one of the largest international energy companies in the country, today announced the start of production from the Satellite Cluster gasfield in block KG D6 off the east coast of India. RIL has a consolidated turnover of INR 659,205 crore ($87.1 billion), cash profit of INR 71,446 crore ($9.4 billion), and net profit of INR 39,880 crore ($5.3 billion) for the year ended March 31, 2020.
British Petroleum (BP), which was started in 1908 with the discovery of oil in Persia, has expanded it’s business from coal to oil, from oil to gas, from onshore to deep water, and now onwards towards a new mix of energy sources as the world moves into a lower carbon future. With a century-long business presence in India, bp is one of the largest international energy companies in the country.
BP’s activities in India also include Castrol lubricants, oil and gas trading, clean energy projects through Lightsource bp, IT back office activities, a new global business services center, staffing and training for the global bp marine fleet, and the recruitment of skilled Indian employees for bp’s global businesses.
“The Satellite Cluster is the second of the three developments to come onstream, following the start-up of R Cluster in December 2020. It had originally been scheduled to start production inmid-2021. The field is located about 60 km from the existing onshore terminal at Kakinada on the east coast of India in water depthsof upto 1850 meters, said Rohit Bansal, Group Head of Communications, Reliance Industries Limited, India. Rohit, a media leader and influencer, is alum of Harvard Business School and St Stephen’s College, a multiple TEDx speaker and a Distinguished Fellow at India’s premier think tank, the Observer Research Foundation (ORF).
“The field will produce gas from four reservoirs utilizing a total of five wells and is expected to reach gas production of upto 6 mmscmd. Together, the R Cluster and Satellite Cluster are expected to contribute to about 20% of India’s current gas production. The third KG D6 development, MJ, is expected to come onstream towards the latter half of 2022, Bansal said in a press release.
RIL’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services. RIL is the top-most ranked company from India to feature in Fortune’s Global 500 list of ‘World’s Largest Companies’ - currently ranking 96th. The company stands 71stin the ‘Forbes Global 2000’ rankings for 2019 – top-most among Indian companies. It ranks 10th among LinkedIn’s ‘The Best Companies to Work for in India’ (2019)
On the other hand, BP, with a century-long business presence in India, is one of the largest international energy companies in the country. In addition to their gas value chain partnership, in 2020 bp and RIL also completed the formation of their major retail, aviation fuels and mobility alliance.bp’s activities in India also include Castrol lubricants, oil and gas trading, clean energy projects through Lightsource bp, IT back office activities, a new global business services center, staffing and training for the global bp marine fleet, and the recruitment of skilled Indian employees for bp’s global businesses.
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