Reliance Industries Ltd (RIL) has announced that its wholly owned subsidiary Reliance Exploration and Production DMCC on November 12, 2007 signed a Production Sharing Agreement (PSA) with the government of Oman for a offshore Block No 41 in Oman deep water.
The Block measures over 20,000 sq km and water depth could increase up to 3,000 meters. The new Block is adjacent to the earlier Block allocated to RIL in 2005. RIL will integrate operations of both the adjoining blocks to increase value for both the government of Oman and Reliance Industries Ltd.
Within a week, this is Reliances third Block for which PSA has been signed. The previous two were in the Kurdistan Region of Northern Iraq.
RIL has been actively pursuing petroleum exploration activities in the Middle East, particularly in Oman and Yemen, besides India, Asia Pacific Region and South America.
Tuesday, November 13, 2007
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