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REL to bid for potential gas bearing blocks in future

Written by: Staff
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Mumbai, Mar 23 (UNI) Anil Ambani-owned Reliance Energy Ltd (REL) is likely to bid for potential gas bearing blocks on offer under NELP-VI in to order to ensure supply of gas for its power generation expansion programme in future.

Though Anil's elder brother Mukesh Ambani's Reliance Industries is expected to make a strong move towards acquiring more oil blocks, REL is scouting for a foreign partner for its maiden foray into exploration and production business , industry sources said.

The oil exploration and production business of the Reliance group went to Mukesh when India's largest business empire was split last year.

Sources said Reliance Energy plans to bid for potential gas bearing blocks on offer in the sixth round of bidding under new exploration licensing Policy (NELP) and coal bed methane blocks.

However, company officials were unavailable for comments.

UNI GC SA AG2033

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