Reliance Industries Expands its International Footprint Signs Production Sharing Agreements for Two Blocks in Yemen

Reliance Industries Ltd (RIL) has announced that its wholly owned subsidiary Reliance Exploration and Production (REP) DMCC has signed the Production sharing Agreement (PSA) for two Exploration Blocks in Yemen on November 20, 2007.

The exploration block numbered 34 & 37 are located in Jeza basin of eastern Yemen. The work program consists of conducting seismic survey & drilling of exploratory wells based on comprehensive geological and geophysical studies. In both the blocks Hood Energy partners RIL with 30% participating interest.

RIL is already present in Yemen since 2001 when it was allocated block no 9, where substantial reserves of hydrocarbon has already been established and one of the discovery has been put on early production. In this block exploration is also continuing with a number of identified hydrocarbon prospects. RIL and Hood Energy hold 25% each in this block and Calvalley Petroleum Inc. with 50% are the partners in this Joint Venture.

Recently RIL Reliance had also signed a production sharing contract in Oman.

The agreement was signed by the Deputy Oil Minister on behalf of President of Republic of Yemen and Shri. Atul Chandra, senior representative from RIL. The Minister of Oil & Mineral Resources, Republic Yemen H. E. Khalid Mohammad Bahah graced the occasion.