New Delhi :Petroleum minister M.Veerappa Moily said that UK-based BP Plc and its partner Reliance Industries are going to invest $8-10 billion for further discoveries in India by 2016-17 after their concerns are met on Friday .

The minister, however said that except for one issue, the government has resolved all the concerns of the BP Plc and Reliance Industries combine on KG D6 block.

BP chief executive officer Bob Dudley and Reliance Industries chairman Mukesh Ambani met Moily and finance minister P. Chidambaram. Dudley is also supposed to meet Prime Minister Manmohan Singh. This is Dudley fourth visit to India this year.

“I think almost all their concerns, except on, have been already resolved. We will be taking up the matter with the CCEA shortly. We have discussed the matter, they have given their sides and we have also explained our problems,” he said.