RIL Mulling Over New Foreign Partner

RIL, the country''s most valued firm, is mulling over bringing a new strategic foreign partner in its KG Basin D-6 block. Markets gave a thumps up with the stock spiralling to an intra-day high of Rs 2519. Reliance is willing to get another ally along with its existing partner, Niko Resources, into the giant D6 natural gas block. It may sell 10 per cent equity in the exploration block to the new partner. Meanwhile, bluechip investment bank Goldman Sachs is lining up potential suitors. The KG Basin has huge reserves estimated at 11 trillion cubic feet. There''s no surprise that the biggest names in the business are pouring over the data that shows exactly what lies under water in the Krishna-Godavari basin. The biggies include Exxon Mobil, Shell, BP and Chevron.