Reliance acquires oil/gas block in Oman
By Our Corporate Bureau | 05 Jan 2005
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New Delhi: Reliance Industries has acquired a deep sea oil and gas block in the Gulf of Oman, and is looking for oil assets in Qatar, Iran and Saudi Arabia.
"We have got one deep water block in Oman. The block is believed to hold crude oil and condensate reserves," a senior official said yesterday.
Oman had put three deep-water blocks for bidding, and Reliance has bagged one of them. The official refused to give details.
This is the second oil and gas block Reliance has acquired outside India. It holds a 20 per cent stake in the exploration Block 9 in Yemen where a significant oil discovery has already been made.
