The Cabinet Committee on Economic Affairs approved the proposal to grant consent to the transfer of 30% of Participating Interest of Reliance India Limited to BP Exploration (Alpha) Limited in 21 blocks, by excluding blocks AS-ONN-2000/1 and NEC-DWN-2002/1, subject to submission of all guarantees and documents by the assignee viz., BP Exploration (Alpha) Limited in terms of provisions of the respective PSCs.

Further, ministry of petroleum & natural gas may subsequently take a suitable administrative decision in respect of the issues pending in respect of two blocks AS-ONN-2000/1 and NEC-DWN-2002/1. Based on such decisions, MoP&NG may in future grant or refuse consent to transfer of 30% Participating Interest in these two blocks.

It is expected that proposed transfer of 30% PI of RIL to BP Exploration Limited in respect of 21 blocks would bring vast technical expertise into the blocks.