New Delhi [India], July 29 : Reliance Industries Limited (RIL) has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Limited (ONGC) and BP Exploration (Alpha) Limited (BP) for the exploration Block GS-OSHP-2022/2 (Block).
This Block in located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy, RIL said in a statement.
The RIL further added that the parties will pursue exploration operation in the Block pursuant to the terms of award of the Block.
Reliance Industries Limited (RIL) is India's largest private sector company, with a consolidated revenue of Rs 10,71,174 crore (USD 125.3 billion) and net profit of Rs 81,309 crore (USD 9.5 billion) for the year ended March 31, 2025. Reliance's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
Currently ranked 86th, Reliance is the largest private sector company from India to be featured in Fortune's Global 500 list of 'World's Largest Companies' for 2024.
The company stands 49th in the Forbes Global 2000 rankings of 'World's Largest Public Companies' for 2024, the highest among Indian companies. Reliance has been recognized in Time's list of the 100 Most Influential Companies of 2024, marking the only Indian company to have achieved this honor twice.
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