In an announcement on Tuesday, Medco said it had signed an agreement with Reliance subsidiary, Reliance Exploration & Production DMCC, last month which would give it a stake in the block with an effective economic date of 1 January 2012.
While the agreement was for a 25% interest, Medco noted that it would effectively have a 21.25% participating interest in the block when taking into account a proportionate carried share of Yemen Oil & Gas Company (YOGC).
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