British oil giant seeks to buy shares in India's D6 block

According to a Reuters report on February 7 in Mumbai, the famous financial newspaper Mint reported today quoted a source familiar with the development project as saying that BP, Europe’s second-largest oil company, is currently working with India’s largest The listed company, India Trust Industry Corporation, held talks on the purchase of a 30% to 45% stake in the latter's D6 oil and gas block in the Krishna-Godwarari Basin in the eastern Indian waters.

India Trust Industries currently produces between 52 and 53 million cubic meters of natural gas per day from this block, which is less than the company’s average daily production of 60 million cubic meters of natural gas. However, the Indian upstream regulatory agency has said that the D6 block Natural gas production will increase by April of this year.

Neither Indian Trust Industry nor BP officials immediately commented on the Mint report.