Reliance will be the operator of the blocks with a 96 percent participating interest while United National Resources Development Services Co. Ltd, a Myanmar company, will hold the remaining stake.
Indian oil and gas major Reliance Industries said on Tuesday it had signed an agreement with Myanmar for a production sharing contract for two offshore blocks.
Reliance will be the operator of the blocks with a 96 percent participating interest while United National Resources Development Services Co. Ltd, a Myanmar company, will hold the remaining stake.
Reliance said in a statement its participation was in line with its strategy to expand its international asset base by investing in attractive oil and gas destinations.
Disclosure: Network18, which publishes moneycontrol.com, is part of the Reliance Group.
Reliance stock price
On March 31, 2015, Reliance Industries closed at Rs 824.70, up Rs 14.35, or 1.77 percent. The 52-week high of the share was Rs 1142.50 and the 52-week low was Rs 796.75.
The company's trailing 12-month (TTM) EPS was at Rs 68.32 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 12.07. The latest book value of the company is Rs 609.07 per share. At current value, the price-to-book value of the company is 1.35.
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