Minister Manmohan Singh to attend the luncheon hosted in honour of visiting British Prime Minister.
Leading the largest-ever trade delegation from the UK to any country, British Prime Minister David Cameron said: "BP is already the largest single British investor in India and the decision to join forces with RIL to invest USD 5 billion in the next few years into India's gas markets reinforces how two of Britain and India's leading companies can work together to invest in and supply the energy needs of the future, creating jobs and boosting prosperity."
"Gas from these projects will deliver energy to millions of Indians and would significantly help India in reducing import dependence. My ministry is committed to provide necessary support to promote such investment in the domestic oil and gas sector. We will do the needful to fast track these projects and help them attain economic viability," assured Moily.
The statement quoted Ambani as saying that his firm's partnership with BP was "focused on finding more hydrocarbons and addressing the complexities of the geology along the east coast of India."
Dudley said: "We will bring all our expertise in deep water to explore the prolific gas basins in India and BP looks forward to a rewarding and successful exploration programme in the coming years."
Sources with direct knowledge of the development said RIL-BP may have sought to strongly counter what they consider twisting of facts by certain quarters on the issue.
They said there were disagreements on the scope of audit that cropped up on the very first day the Comptroller and Auditor General of India (CAG) began the second round of audit last month, as RIL felt the auditor was not confirming if the accounts scrutiny would be as per the provisions enshrined in the Production Sharing Contact (PSC).
RIL points to Oil Ministry's written assurance that CAG would follow the audit process set out in Section 1.9 of the Accounting Procedure of the PSC and that it would not be a performance audit of the contractor. But CAG at the January 9 audit kick-off meeting did to give any such assurance.
Sources said the CAG