Mumbai / Nay Pyi Taw (Myanmar), March 31, 2015:Reliance Industries Ltd (RIL) and Myanma Oil & Gas Enterprise(MOGE), an enterprise of the Government of Myanmar, have signed production sharing contracts for two offshore blocks (M17 and M18) RIL won both the offshore blocks after its bids in Myanmar Offshore Block Bidding Round 2013 were declared successful by The Ministry of Energy (MOE) of the Republic of the Union of Myanmar.
Reliance Industries Ltd (RIL) plans to raise up to Rs 10,000 crore in debt this fiscal to part fund its $26 billion investment plan. RIL has sought shareholder nod to raise funds through non-convertible debenture in one or more tranches. RIL is expanding its existing petrochemical plants.
With government taking initiative to de-bottleneck the energy sector growth and boost countryÂ´s economy, oil and gas majors are busy addressing risk factors and multitasking to integrate their business model in order to ensure future growth, says Pradeep Pandey.