India's Reliance Industries has invited bids for bids for selling gap that will be produced from its blocks at Shahdol and Annupur in the central Indian state of Madya Oradesh.

The company said that it is aimin go to produce up to 3.5 million standard cubic metres a day (mscmd) of gas by the second half of 2014 from two coal-bed-methane (CBM) blocks from locations in the state.

The company expects to begin production of gas on the fields from July 2014. A company official said that the bidding price will have to be approved by the government before it is finalized.

A company advertisement read, the bidders will be required to pay a marketing margin of $0.15 per million British thermal units, transportation tariff as well as taxes or levies on the sale besides the gas price. The bids will be accepted until 17 February.

The Mukesh Ambani led company also owns anther CBM in the neighboring Chhattisgarh state. The company has been under pressure due to the falling output from its Krishna Godavari D6 gas fields off the country's eastern coast.