NEW DELHI, Oct. 23 India's Reliance Industries Ltd. says it is in talks with Peru for a stake in two oil blocks.
A company official said the private energy major completed negotiations for the two blocks for which contracts are likely to be signed soon. He refused to divulge the names of the blocks and the amount of stake RIL planned to invest.
The talks follow an agreement earlier this year between RIL and state-run Petroperu for collaboration in the oil and gas sector.
The pact with the Peruvian company envisages cooperation in exploration and production, besides forming joint ventures for setting up petrochemical plants. A company spokesman declined comment, the Business Standard newspaper reported Tuesday.
RIL also plans to set up a refinery in Central America, said the company official, who did not want to be named. It is actively considering bidding for a construction project to build an oil refinery with a capacity of 350,000 barrels per day in one of the following countries: Costa Rica, Guatemala, Honduras and Panama.
Copyright 2007 by UPI
