OREANDA-NEWS. December 18, 2012. Reliance Exploration and Production DMCC, a wholly owned subsidiary of Reliance Industries Ltd. (RIL), has signed the completion documents for divestment of its 25 percent Working Interest in the Production Sharing Contract (PSC) for Yemen Block-9 with Medco Yemen Malik Ltd., a wholly owned subsidiary of PT Medco Energi Internasional Tbk of Indonesia. The effective economic date of the transaction is 1st January, 2012 and the transaction has been approved by the Ministry of Oil and Minerals of Yemen.

The media release made by PT MEDCO Energi Internasional Tbk is also enclosed for reference.

Reliance Industries Limited (RIL) is India’s largest private sector company on all major financial parameters with a turnover of INR 339,792 crore (USD 66.8 billion), cash profit of INR 31,994 crore (USD 6.3 billion) and net profit of INR 20,040 crore (USD 3.9 billion) as of March 31, 2012.

RIL is the first private sector company from India to feature in Fortune’s Global 500 list of 'World's Largest Corporations' and ‘World’s Top 100 companies’, ranking 99th in terms of revenues and 130th in terms of profits in 2012. RIL ranks 68th in the Financial ‘Times FT Global 500’ list of the world's largest companies. RIL is ranked amongst the ’50 Most Innovative Companies - 2010' in the World in a survey conducted by the US financial publication - Business Week in collaboration with the Boston Consulting Group (BCG). In 2010, BCG also ranked RIL as the second highest ‘Sustainable Value Creators’ for creating the most shareholder value over the decade in the world.