US energy major Chevron Corp will buy upto 40 per cent stake in Reliance Industry's gas rich D-6 block in KG Basin and become a co-promoter of its new export oriented refinery.
Reliance sources said Chevron will invest 40 per cent of the development cost for bringing to production the 14.5 trillion cubic feet gas field off the Andhra coast.
Chevron, which currently has a lubricant blending and marketing operation in India, has been looking at partnering Reliance for marketing natural gas produced from the Indian firm's D-6 field in Krishna Godavari basin off the Andhra coast.
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