Shirish Nadkarni
OGJ correspondent
MUMBAI, Mar. 14 -- Reliance Industries Ltd., Mumbai, acquired exploration rights to one of the largest deepwater blocks in Oman, signing an exploration and production sharing agreement (PSA) on Mar. 12.
The PSA for Block 18 off the Batinah coast covers more than 18,000 sq km in water as deep as 1,000 m. During an initial 3-year exploration period, Reliance plans to shoot a seismic survey.
Reliance, India's largest private sector company, is the block operator and holds 100% interest.
