Reliance has begun pumping oil off the Bay of Bengal, which, the company claims, will boost India's oil and gas by 40 percent in under two years, reducing its oil import costs by $20 million a year.
The company claims the oil fields it is mining hold 2.5 billion barrels of oil equivalent, four-fifth of which is natural gas. The company expects to begin mining the natural gas in January.
India is the world's fifth largest energy consumer. | |
