Reliance Exploration and Production (REP) DMCC, the exploration arm of
Reliance Industries Ltd (RIL), has inked an agreement with Columbia based oil
company Ecopetrol SA for two deep water blocks.
Under the deal, Ecopetrol is expected to take a 20 per cent stake in the two
deepwater blocks -- Borojo North Block 42 and the Borojo South Block 43 in
Columbia. The two blocks cover an area of 8,000 sq km with in-water depths
ranging from 60-1,500 mtrs.
REP is to hold the remaining stake in the two blocks and the deal is subject
to approval of ANH, the Columbia's upstream regulator.
REP has completed acquisition and processing of 2D seismic of around 3,000
line km and is in the process of commencing multi-beam bathymetry studies
covering both the blocks.
Also See:
RIL
chalks out expansion blueprint (18-Nov-09)