The Cabinet Committee on Economic Affairs on Friday approved the proposal of British Petroleum (BP) to buy 30 per cent stake in 21 oil and gas blocks Reliance Industries Limited (RIL). Briefing the media , Petroleum minister Jaipal Reddy said the 7.2 billion dollars production sharing contract is not only the biggest ever foreign investment in India but it will also lead to induction of best technical experties to India's hydro-carbon sector. He said though Europe's second-largest oil company BP had evinced interest in 23 oil blocks, the decision on remaining two blocks will be taken subsequently. He said there are some reservations on the Assam and North-East blocks and any company including BP can take the same after the issues in question are resolved. On the question of Iran's threat to stop oil supplies to India on non-payment issues, Reddy said government is making all possible efforts to pay the bills and the first tranche will be cleared soon. Iran has threatened to block supplies to India because of 5 billion dollars in unpaid fees due to international sanctions against Tehran. The minister assured that there is no need to worry on the oil supply front as India's procurement is not only confined to Gulf countries but supplies come from other regions of the world also.