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"With BP as our strategic partner, it makes sense to do a fresh review of our portfolio and come back with a new strategy," the source added, without specifying a timeframe for when new drilling would restart.
"We will re-look to ascertain if we were going the right way," the source said.
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Once completed, the reassessment will be shared with India's upstream oil and gas regulator, the Directorate General of Hydrocarbons (DGH).
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Reliance, controlled by India's richest man Mukesh Ambani, recently concluded a .
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2 billion deal with BP, selling it a 30 percent stake in 21 of its oil and gas fields off the Indian coast.
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Reliance hopes BP's deepwater drilling expertise will increase output from its hard-to-exploit deepwater reserves. BP, meanwhile, will benefit from access to new hyd