Reliance Industries Limited (RIL) announces that its wholly owned subsidiary Reliance Exploration and Production (REP) DMCC has signed the Production sharing Agreement (PSA) for two Exploration Blocks in Yemen.
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 has 30% participating interest with the balance held by RIL.
RIL has been present in Yemen since 2001 when it was allocated block no 9, where substantial reserves of hydrocarbon have been established and one 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.
RIL has also recently signed a production sharing contract in Oman.