RIL signs deal for two blocks in Yemen

Mukesh Ambani-promoted Reliance Industries (RIL) 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% participating interest, a company 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% stake each in this block and Calvalley Petroleum Inc, with 50%, is a partner in this joint venture.