RIL signs contract for an offshore exploration block in Timor

New Delhi, Nov 16 (UNI) Reliance Industries Ltd (RIL) today signed a production sharing contract for the offshore ''Contract Area K'' in Dili, capital of Timor Leste.

The contract was signed between the Minister of Natural Resources, Government of Timor Jose A Fernandes Teixeira and RIL's International Operations President Atul Chandra.

In January 2006, the Timor government had invited bids for 11 offshore exploration blocks in shallow to ultra deep waters in its country.

In a bid with substantial participation from international players, RIL was awarded one block out of six. The area of the awarded block K is 2,384 sq km.

UNI DKS SBA RS2132