Apr 2, 2015

RIL signs contracts for Myanmar blocks

Reliance Industries Ltd (RIL) has signed production sharing contracts with Myanmar for two offshore blocks, which the Indian company had won in 2013. The company entered into the contracts with Myanmar government’s Myanma Oil & Gas Enterprise (MOGE) for M17 and M18 offshore blocks.

RIL will be the operator of the blocks with a 96 per cent participating interest. United National Resources Development Services Co Ltd (UNRD), a Myanmar company, will hold the remaining interest in the block.

Source: The Hindu Business Line