OREANDA-NEWS. July 20, 2011. CCEA is likely to consider the Petroleum Ministry's recommendation of granting approval to the deal  Reliance Industries Ltd has reportedly received USD 2 billion from BP as part of USD 7.2 billion for acquiring participating interest in the Indian company's 23 oil and gas blocks in the country.

Reports stated that the Cabinet Committee on Economic Affairs (CCEA) is likely to consider the Petroleum Ministry's recommendation of granting approval to the deal shortly. Reports further added that, the exploration phase two oil and gas blocks in Assam and the North East Basin is not clear and will be granted conditional approval.

According to reports, the Petroleum Ministry has proposed that conditional approval for these two blocks could be given pending resolution of the issue.