March 31, 2015 / 1:56 PM / 4 years ago

India's Reliance signs production sharing pact for offshore blocks in Myanmar

MUMBAI, March 31 (Reuters) - Indian oil and gas major Reliance Industries said on Tuesday it had signed an agreement with Myanmar for a production sharing contract for two offshore blocks.

Reliance will be the operator of the blocks with a 96 percent participating interest while United National Resources Development Services Co. Ltd, a Myanmar company, will hold the remaining stake.

Reliance said in a statement its participation was in line with its strategy to expand its international asset base by investing in attractive oil and gas destinations. (Reporting by Suvashree Dey Choudhury; Editing by Mark Potter)

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