Reliance in cooperation agreement with UAE petro company

June 25th, 2008 - 12:08 pm ICT by IANS  


Sharjah, June 25 (IANS) Reliance Exploration and Production, a subsidiary of India’s largest private sector company Reliance Industries Limited (RIL) has signed here a cooperation agreement with the United Arab Emirates-based petroleum company Crescent Petroleum, WAM news agency reported Wednesday. The deal aims at establishing a framework for jointly developing industrial projects of mutual interest in the region’s energy sector that would include upstream development, midstream pipelines as well as downstream industrial and petrochemical projects.

The agreement was signed by Atul Chandra, president of petroleum international business at Reliance Industries, and Badr Jafar, executive director at Crescent Petroleum.

“It is a very important day for us to join forces with such a capable and efficient oil and gas company in this region. We have numerous strategic synergies between us, which will help both of us add value to our shareholders,” said Chandra.

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