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35

BG India Investment Plans

The media informed that BG India, a part of British Gas Group, integrated oil and gas company, plans to invest Rs.4, 000 crones in the exploration business in the next couple of years to three years according to a top company executive

The media informed that BG India, a part of British Gas Group, integrated oil and gas company, plans to invest Rs.4, 000 crones in the exploration business in the next couple of years to three years according to a top company executive.

BG India Managing Director, Kapil Garg inaugurated British Gas Petroleum Geosciences Lab at the Indian Institute of Technology, Powai. BG funded the geosciences lab at IIT in Mumbai to facilitate high quality research in the field of oil exploration.

Garg said that the BG Group is the largest foreign investor in Indian oil and gas sector, with an investment of about $900 million till date and has presence in the west and east coast in oil exploration activities. He said that India needs about $300 billion for exploration of hydrocarbon.