RIL gains on receiving exploration contracts for two offshore blocks in Myanmar

Reliance Industries Ltd. | Refineries | Oil & Gas | BSE: 500325 | NSE: RELIANCE

27 Mar 2014 Evaluate

Reliance Industries is currently trading at Rs. 899.90, up by 9.70 points or 1.09% from its previous closing of Rs. 890.20 on the BSE.

The scrip opened at Rs. 895.00 and has touched a high and low of Rs. 898.75 and Rs. 894.90 respectively. So far 10,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 927.90 on 19-Jul-2013 and a 52 week low of Rs. 765.00 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 913.70 and Rs. 872.60 respectively. The current market cap of the company is Rs. 2,90,806.00 crore.

The promoters holding in the company stood at 45.31% while Institutions and Non-Institutions held 29.71% and 21.47% respectively.

Reliance Industries (RIL) has been selected by the Ministry of Energy (MOE) of the Republic of the Union of Myanmar for two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round - 2013. Both the blocks are located offshore in the Moattama basin of Myanmar in water depths up to 3000 ft and together encompass an area of 27,600 sq. kms.

The 2013 Offshore Blocks Bidding Round saw participation from global E&P players. In all 36 companies submitted 64 proposals for the 30 offshore blocks on offer. RIL had submitted proposals for three offshore blocks.

As per the process, RIL or its affiliates will enter into Production Sharing Contracts (PSC) for the aforementioned offshore blocks. The PSC allows for an initial preparation and study periods before committing into Phase 1 of Exploration period.

RIL’s participation is in line with its strategy of portfolio rationalization by expanding its international asset base by investing in regimes having attractive internationally competitive terms on offer. The company thus hopes to leverage its organizational capabilities and expertise to create value for the E&P segment.

Reliance Industries Share Price

1462.95 32.10 (2.24%)

04-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Reliance Industries	1462.95
Indian Oil Corp.	142.30
BPCL	301.80
HPCL	373.85
MRPL	159.50
View more..

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