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Reliance offloads 25% stake in Yemen's Block-9
- Yemen: Thursday, December 06 - 2012 at 01:20
India's Reliance Industries (RIL) has sold its 25% stake in an oil block in Yemen to Indonesia's Medco Energi for about $90m, PTI has reported. RIL's Dubai-based subsidiary Reliance Exploration and Production DMCC "signed the completion documents for divestment of its 25% working interest in the Yemen's Block-9 to Medco Yemen Malik, a wholly-owned subsidiary of PT Medco Energi Internasional Tbk of Indonesia," the company said.
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