RIL signs production sharing agreement with Oman

New Delhi, Nov 12: Mukesh Ambani-owned Reliance Industries Ltd (RIL) today said its wholly-owned subsidiary Reliance Exploration and Production DMCC has signed a Production Sharing Agreement (PSA) with the government of Oman for a offshore Block No 41 in Oman deep water.

''The Block measures over 20,000 sq km and water depth could increase upto 3,000 metres. The new Block is adjacent to the earlier Block allocated to RIL in 2005, '' said a company statement.

RIL will integrate operations of both the adjoining blocks to increase value for both Oman government and RIL, the statement added.

This is the company's third Block for which PSA has been signed, with the other two in the Kurdistan Region of Northern Iraq.

RIL has been actively pursuing petroleum exploration activities in West Asia, particularly in Oman and Yemen, besides India, Asia Pacific Region and South America.

UNI