If the companies do reach an agreement regarding the likely acquisition, Reliance Industries’s D-6 Block with reserves of 14 trillion cubic feet of gas will be valued at over $22 billion.
It is understood that other companies like Exxon Mobile, Chevron, BP, BG Group, Total, ENI and Petrobras have also expressed interest in Reliance’s D-6 block.
Times News Network quoted a Reliance Industries spokesperson as saying: We firmly deny that any such transaction is being planned. There is nothing of the kind in the pipeline.
In regard to a possible interest in Reliance’s D-6 block, Shell’s official spokesperson said: In line with our corporate strategy of ‘more upstream, profitable downstream’, we are always interested in good exploration and production options, but we do not comment upon speculation or rumor.
However, the stake sale can happen only after the block is hived off into a special purpose vehicle. It is learnt that Reliance Industries is interested in selling the stake to an international company in return for deep water technology.
