Reliance Industries completes sale of 25% stake in Yemen oil block to Medco Energi

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Reliance Exploration signed documents for divestment of its 25% working interest: RIL. (Reuters) Reliance Exploration signed documents for divestment of its 25% working interest: RIL. (Reuters)
SummaryReliance Exploration signed documents for divestment of its 25% working interest: RIL

USD 66 million with its patner Hood.

Reliance Industries had in July sold its 80 per cent interest in Rovi and Sarta onland blocks in northern Iraq to US oil behemoth Chevron Corp for a reported USD 200 million.

The exits are part of the company's overseas asset restructuring wherein it is cutting exposure in exploration blocks to focus on producing properties.

After the exit from Kurdistan and Yemen, RIL now is left with a portfolio of 10 overseas oil and gas assets including two each in Peru, Yemen, Oman and Colombia and one each in East Timor and Australia.

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