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Reliance gets oil blocks in Yemen

Sanaa, November 21, 2007

Yemen signed two oil exploration deals with a unit of India's biggest listed company, Reliance Industries, the Yemeni news agency Saba reported.

Under the production sharing agreements, Reliance Exploration & Production DMCC and its Yemeni partner Hood are to invest $66 million to develop blocks 34 and 37 in eastern Yemen, the agency said.

Reliance -- which has petroleum exploration activities in India, the Middle East, Asia-Pacific region and South America -- already had a stake in one block in Yemen.

Reliance signed a contract for a second exploration in Oman earlier this month, days after Iraq's Kurdish Regional Government said it had awarded two blocks to the company.

Reliance also owns exploration blocks in East Timor, Australia and Colombia through its subsidiaries. Reuters




Tags: India | yemen | Reliance Industries |

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