RIL, PdVSA sign joint study agreement for Ayacucho Block 8 in Orinoco oil belt

10/10/2013

RIL, PdVSA sign joint study agreement for Ayacucho Block 8 in Orinoco oil belt

MUMBAI -- Reliance Industries Limited (RIL) and Venezuelan state oil company Petroleos de Venezuela, SA (PdVSA) have signed a Joint Study Agreement for Ayacucho Block 8 in the Orinoco oil belt.

As per the study agreement, both parties will jointly evaluate the development plan for Ayacucho 8.

RIL and PdVSA have also extended the term of the MOU signed between the parties last year by one year.

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