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Friday, 05 December, 2008, 16:50 GMT | more >>

Reliance in talks for 10% of D6 block



By Upstream staff 

India's Reliance Industries is in talks with several oil companies to sell up to 10% in its deep water D6 block off India's east coast, two company sources said today.

Shell told Reuters in Paris it was in talks with Reliance about taking a stake in Reliance's D6 block in the Krishna Godavari basin.

The two sources, who did not wish to be identified, said ExxonMobil, Chevron and BP had also shown interest in the deal.

"The process has been going on since last two to three weeks and officials from many oil majors have seen the geological data," one of the sources said.

Reliance owns 90% in the block, with Canadian oil firm Niko Resources as a 10% partner.


Thursday, 10 April, 2008, 16:16 GMT  | last updated: Thursday, 10 April, 2008, 16:16 GMT

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