<p> <br />RIL, through its wholly-owned subsidiary Reliance Exploration & Production DMZ, holds interests in 15 overseas exploration blocks and is considering farming-out a part of its stake, industry sources said.<br /><br />The company may sell stake in six blocks in Yemen, Oman, Colombia and Australia, they said, adding RI is in discussion with global energy firms to sell a part of its shareholding.<br />When contacted, a RIL spokesperson said: “It is a general practice in the global exploration and production business to optimize the portfolio on the basis of risk and reward.”<br /><br />The company is looking at selling stakes so that its budget for overseas exploration can be spread over larger number of projects while also getting global expertise.<br /><br />“The need for such farm-outs are determined by various factors, including the strength added by a potential partner, structuring needs of the portfolio among others and could be undertaken after some basic studies have been completed.<br /><br />“This is an ongoing exercise and not something new or a one-time exercise,” the spokesperson said.</p>
<p> <br />RIL, through its wholly-owned subsidiary Reliance Exploration & Production DMZ, holds interests in 15 overseas exploration blocks and is considering farming-out a part of its stake, industry sources said.<br /><br />The company may sell stake in six blocks in Yemen, Oman, Colombia and Australia, they said, adding RI is in discussion with global energy firms to sell a part of its shareholding.<br />When contacted, a RIL spokesperson said: “It is a general practice in the global exploration and production business to optimize the portfolio on the basis of risk and reward.”<br /><br />The company is looking at selling stakes so that its budget for overseas exploration can be spread over larger number of projects while also getting global expertise.<br /><br />“The need for such farm-outs are determined by various factors, including the strength added by a potential partner, structuring needs of the portfolio among others and could be undertaken after some basic studies have been completed.<br /><br />“This is an ongoing exercise and not something new or a one-time exercise,” the spokesperson said.</p>