MUMBAI, April 13 (Reuters) - A joint venture led by India'sReliance Industries and BG Group has agreed to handdrilling infrastructure from an abandoned gas field to ONGC Ltd, their junior partner, helping the state-run groupdevelop a large gas reserve nearby, two company sources said.
Executives from Reliance, BG and ONGC signed an agreement inNew Delhi on Tuesday night - providing respite in a months-longbattle between the partners over the cost of closing the Taptifield off India's west coast.
The sources, with direct knowledge of the matter, declinedto be named as they are not authorised to talk to the press.
ONGC plans to invest around 100 billion rupees ($1.50billion) to develop its key Daman field, which is next to Tapti.This deal will help the group keep a lid on costs.
Reliance, ONGC and BG, now owned by Royal Dutch Shell, could not immediately be reached for comment. (Reporting by Promit Mukherjee; Writing by Krishna Das; Editingby Clara Ferreira Marques)
