Reliance Industries, in association with its partner BP, is planning to surrender three more oil and gas exploration blocks on the East Coast, won through domestic bidding. After this transaction, the total number of blocks it holds will now come down to seven from 10. RIL is giving up two blocks in Mahanadi Basin and one in Krishna Godavari Basin, as it did not see any prospect there.
The entity has informed to the Directorate General of Hydrocarbons (DGH) about its intention to surrender three blocks won in the sixth round of the New Exploration Licensing Policy (NELP VI). Reliance had not started any drilling campaigns in these blocks.
