Reliance Industries has decided to relinquish Myanmar deep-water blocks M-17 and M-18, dealing a blow to the nation’s hopes of further hydrocarbon discoveries.
The Indian player decided to walk away from the two blocks in the Tanintharyi basin on completion of the technical evaluation and study period.
Reliance operates both blocks with a 96% interest and local Myanmar player United National Resources Development Services Company has the remaining 4% stake.
