BG to invest $500 mn in Indian operations

BG Group Plc, a British energy firm, plans to invest $500 mn over next five years in its oil and gas business in India. The company is looking at both upstream and downstream opportunities for expansion in India. BG Group has 30 per cent stake in Panna/Mukta and Tapti oil and gas fields off the west coast. Besides, it has 24-25 per cent stake in three exploration blocks with state-owned Oil and Natural Gas Corp (ONGC). It also has 65.12 per cent controlling stake in Gujarat Gas Co Ltd, which sells gas in Gujarat, and 49.75 per cent stake in Mahangar Gas Ltd which retails CNG and piped gas in Mumbai. Contact: BG Group. Tel: 440-118-935 3222. Fax: 440-118-935 3484. Website: www.bg-group.com