Reliance Industries Ltd (RIL) has pocketed two oil blocks in Iraq’s Kurdish region.
RIL has signed up a deal for the blocks ‘Rovi’ and ‘Sarta’ in northern Iraq with the autonomous Kurdish Regional Government (KRG).
The blocks measuring 450-500 sq km have an oil-bearing structure of around 80%, and Reliance is confident of making a discovery soon. RIL paid a signing amount of $15.5-17.5 million for the two blocks.
According to the deal, the RIL’s wholly owned arm Reliance Exploration and Production DMCC would be served as an operator.
Mumbai: Dealers told that the Indian currency relieved, on Thursday, as oil firms purchased US dollar and as worries about RBI intervention weighed on persuasion, but trading was dense ahead of a p
Mumbai: The fruits and vegetables processing firm, Temptation Foods has announced that it has bought ‘Everfresh,’ the food processing division of Chambal Fertilisers and Chemicals (CFCL).
The financial details of the deal were not disclosed yet.
The company will fund the recent acquisition from the amount (Rs 114 crore) lifted through its recently completed QIP (qualified institutional promoters) issue.