India's Reliance Industries Ltd. is nearing a pact to purchase a huge stake in a large US natural-gas field.

Under the transaction, RIL would pay between $1 billion and $1.5 billion to get hold of an equity stake in Pittsburgh-based Atlas Energy Inc.

The pact with Atlas, which holds approx 584,000 acres in the expansive Marcellus Shale would make RIL the first Indian firm to buy into the Marcellus area.

The exact amount of RIL's equity stake wasn't clear, but Atlas is said to be looking for a 50-50 associate.

While Reliance is presently the prime member in talks, other parties including Sempra Energy are also discussing to be part of the transaction.

An Atlas representative confirmed that the company is researching possible JV transactions but wouldn't remark further.

Manoj Warrier, a Reliance spokesman, refused to comment, it said.

Mukesh Ambani led Reliance has made numerous efforts to get hold of North American assets in recent months.

In February 2010, RIL bid $2 billion for an equity stake in Canadian oil producer Value Creation Inc., but ultimately lost out to British energy giant BP PLC. (With Input from Agencies)