Coal News We love to talk!
Oil & Natural Gas Corporation (ONGC) and Reliance Industries (RIL) have selected an independent agency to verify the state explorer's allegation that RIL may be drawing gas from acommon reservoir in the two companies' adjoining blocks in the KG Basin, said oil minister Dharmendra Pradhan on Wednesday. ONGC's blocks have a common boundary with Reliance's KG-D6 block.
Reliance has strongly denied the allegation, but the state-run company has stuck to its stand and even filed a case against the oil ministry in the Delhi HC, alleging that the government had turned a blind eye to the matter.
"Letter of award has been issued to the independent third party on July 3, 2014," Pradhan told Parliament. He did not name the agency but government and industry sources said RIL and ONGC have jointly selected DeGolyer and MacNaughton (D&M), which had provided consultancy services to both companies in the past.
D&M's selection has been endorsed by the oil ministry's technical arm, the Directorate General of hydrocarbons (DGH). An official statement said the consultant was appointed after ONGC filed an "extraordinary" writ petition in the Delhi High Court against Union ofIndia, DGH and RIL in May this year. ONGC requested the court to appoint an independent agency to establish if there was continuity of reservoirs between blocks of the two companies and to estimate the volume of gas. Also the agency would have to work out how much gas could be allocated to each reservoir, which the statement refers to as "gas balancing" if continuity was established.
- ONGC Videsh 2011/12 output down 7.35 pc y/y Read more
- Demand for petroleum products likely to rise Read more
- Power producers seek roll-back of importduty on equipment Read more
- Govt to seek legal view on joining RIL arbitration Read more
- Sale of green certificates dips 6.61% to 1.73 lakh in July Read more
- Uniform marketing margin for gas suppliers Read more
- Monthly Kerosene price hike to cut down oil firms losses by Rs 2,000 crore next fiscal Read more
- Oil prices are global and gas price is regional: Fereidun Fesharaki Read more
- Delhi HC asks Cairn India to initiate arbitration proceedings in Ravva oil field dispute Read more
- Oil Ministry aiming at awarding oil, gas blocks under HELP by December Read more