Bishop and I plugging nobleman’s sparkling water (7)

'sparkling water' is the definition.
I don't know anything about this answer so I cannot judge whether it can be defined by this definition.

'bishop and i plugging nobleman's' is the wordplay.
'bishop' becomes 'rr' (abbreviation for Right Reverend).
'and' is a charade indicator (letters next to each other).
'plugging' means one lot of letters goes inside another (inserted letters plug up a gap in the word).
'nobleman' becomes 'peer' (peer is a kind of nobleman).
'rr'+'i'='rri'
'rri' inserted within 'peer' is 'PERRIER'.

Can you help me to learn more?