Reliance Industries Expands Footprint in Yemen

Reliance Industries’s wholly-owned subsidiary, Reliance Exploration and Production DMCC, has signed a production sharing agreement for two exploration blocks in Yemen.

The exploration blocks 34 and 37 are located in the Jeza basin of eastern Yemen. The development program consists of conducting a seismic survey and the drilling of exploratory wells based on comprehensive geological and geophysical studies.

UK-based Hood Energy has a 30% participating interest in both of the blocks, while the balance is held by Reliance Industries (RIL).

RIL has been active in Yemen since 2001 when it was allocated Block 9, where substantial reserves of hydrocarbons have been established and one of the discoveries has been put on accelerated production. RIL and Hood Energy each hold 25% in this block, while Canada’s Calvalley Petroleum has a 50% stake in the venture.