In fact it was the first time that the RIL chairman referred to the oil and gas reserves which the company has been accumulating across continents spanning countries such as India, Columbia, Yemen, Oman, East Timor, Egypt and Russia.

“Currently, the global “2P” gross reserve base of Reliance is estimated at about 4.4 billion barrels of oil equivalent,” Mukesh Ambani told shareholders at the 33rd annual general meeting.

2P in oil industry parlance means there is a 50% chance of the estimate being accurate.

“We have set for ourselves a target of 10 billion barrels of oil equivalent of 2P gross reserves globally,” the CMD said.

"The pathway to this target will also involve engaging in several world-class partnerships and will place Reliance well on the path to be a global energy major," Ambani said.

For RIL shareholders, the oil and gas exploration and production is on the threshold of "unprecedented value creation" for Reliance and is going to "fundamentally transform Reliance's earnings growth profile."

 why should reliance give oil to goi which they find in egypt or columbia