RIL signs agreement for two blocks in Yemen
Mukesh Ambani-promoted Reliance Industries Ltd on Tuesday said its wholly-owned subsidiary Reliance Exploration and Production (REP) DMCC has signed production sharing agreement for two exploration blocks in Yemen.
By PTI |
NEW DELHI: Mukesh Ambani-promoted Reliance Industries Ltd on Tuesday said its wholly-owned subsidiary Reliance Exploration and Production (REP) DMCC has signed production sharing agreement for two exploration blocks in Yemen.
The exploration block numbered 34 and 37 are located in the Jeza basin of eastern Yemen. In both the blocks, Hood Energy would partner RIL with 30 per cent participating interest, an RIL statement said.
The work programme consists of conducting seismic survey and drilling exploratory wells based on comprehensive geological and geophysical studies, it said.
The agreement was signed by Yemen's Deputy Oil Minister and RIL representative Atul Chandra.
RIL is present in Yemen since 2001 when it was allocated block number 9, where substantial reserves of hydrocarbon has been established. RIL and Hood Energy hold 25 per cent stake each in this block and Calvalley Petroleum Inc, with 50 per cent, is a partner in this joint venture.
The exploration block numbered 34 and 37 are located in the Jeza basin of eastern Yemen. In both the blocks, Hood Energy would partner RIL with 30 per cent participating interest, an RIL statement said.
The work programme consists of conducting seismic survey and drilling exploratory wells based on comprehensive geological and geophysical studies, it said.
The agreement was signed by Yemen's Deputy Oil Minister and RIL representative Atul Chandra.
RIL is present in Yemen since 2001 when it was allocated block number 9, where substantial reserves of hydrocarbon has been established. RIL and Hood Energy hold 25 per cent stake each in this block and Calvalley Petroleum Inc, with 50 per cent, is a partner in this joint venture.
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