Reliance Hopes for New Technology Partner

India's Reliance Industries (RIL) is in talks with three oil companies to bid for oil and gas blocks in the seventh round of India's New Exploration and Licensing policy (NELP), according to Indian press reports.

RIL is believed to be in talks with Australia's Santos, Devon Energy and US-based AARCO, to find a partner with technological expertise before making a bid for exploration licences, writes India's Economic Times.

RIL, which is poised to start production from the KG basin over the next few months, hopes to move into deeper waters, which requires state-of-the-art technology.

Bids for NELP are set to open by the end of June.

By staff writer