Reliance Invites Contracts to Develop Oil, Gas Blocks

MUMBAI (Dow Jones Newswires), July 7, 2010

Reliance Industries said in a tender document on its website that it is inviting companies to develop and carry out production work at its coal bed methane and onshore exploration blocks.

Reliance Industries controls CBM blocks located in the states of Madhya Pradesh, Chhattisgarh and Rajasthan and it expects to drill about 100 wells a year in the next 5 years.

India's largest company by market capitalisation has invited expressions of interest for this work, which includes drilling, equipment, plant and machinery supplies, at these blocks. The gas blocks were offered by the federal government through auctions in 2001 and in 2003.

These wells will have a target depth of 700 to 1,700 meters, Reliance Industries added.

The company is also inviting contractors for development work at its onshore exploration blocks, which were awarded under the government's second and fifth round of oil block auctions.

Reliance Industries said it was the operator of these blocks and its partners include Oil & Natural Gas Corp., Okland Offshore Holdings, the Indian unit of Hardy Oil & Gas and Tullow India Operations--a unit of Tullow Oil.

India's upstream regulator the Directorate General of Hydrocarbons had conducted the second round of auctions under the New Exploration Licensing Policy in 2000 and the fifth round of auctions in 2005.

Reliance Industries tender document set a deadline of July 21 for companies to submit their expressions of interest for the contracts.

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