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Reliance again puts off gas bid to November 15 on bidders request

Reliance again puts off gas bid to November 15 on bidders request

New Delhi: Reliance Industries has for the second time in a month put off bidding to sell natural gas it plans to produce from newer fields in the flagging eastern offshore KG-D6 block, sources said.

The sources said potential bidders sought more time to evaluate the terms of the offer and so the bidding deadline was pushed back to November 15.

Originally bidding for 5 million standard cubic metres per day of natural gas planned to be produced from R-Cluster fields in the KG-D6 block from mid-2020 was to happen on October 11 but was put off to November 6 as bidders cited festival season in October.

Now, they have sought more time and the bid has been put off to November 15, they said. Reliance and its partner BP plc of UK are in the market to sell the gas they plan to produce from three set of newer discoveries in the KG-D6 block. The partners are not just seeking volume bids but also price quotes and those offering the best price would walk away with the gas.

PTI

PTI

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