Reliance Industries and UK's BP plc have taken over the 10 percent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. The company and BP split Niko's share in proportion to their existing shareholding in the block.
Subsequent to this, the company’s stake in KG-D6 has gone up to 66.67 percent from previous 60 percent and that of BP to 33.33 percent from 30 percent
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
