India: Reliance in Talks to Develop CBM Blocks
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Tuesday, 31 January 2012 |
Reliance Industries and Reliance Power, the companies owned by brothers Mukesh and Anil Ambani, have entered into initial discussions on developing their adjoining coal-bed methane (CBM) blocks in co-operation, according to Petroleum Bazaar.
The talks, which could lead to significant infrastructure savings for both firms, are in preliminary stages and the sides have not made significant headway, according to the report. An official spokesperson for Reliance Industries declined to comment. However, Reliance Power said it was always open to collaboration. "The company always evaluates possibilities of cooperation with other organisations in the zone of our investment area for expeditious execution of our projects," said the firm in a statement.
Reliance Petroleum, part of Reliance Industries Limited, will be represented at the forthcoming PetrolWorld APAC Business Forum, set to take place in Goa, India, from February 22 to 24. This key event in the downstream calendar will see oil companies and solutions providers coming together to discuss new opportunities and develop fruitful business relationships in an exciting downstream market. Visit www.petrolworldforums.com to find out more.
PetrolWorld 31012012
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