Cairn may get more time to explore Rajasthan oil field - Economic Times

By
Viraj
on July 27, 2010 8:35 AM | | TrackBacks (0)
NEW DELHI: The government may give additional time to Cairn India for exploring more oil and gas in its producing Rajasthan oil field provided the company agrees to pay levies in proportion to its stake in the energy asset.

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At present its 30% partner, state-owned Oil & Natural Gas Corp (ONGC), pays the entire royalty on crude from that section of the field where commercial production has already started. Cairn is the operator of the field with a 70% stake. “Cairn has expressed interest in exploring the Rajasthan block. But exploration phase in the block has expired and the company has to take fresh government approvals,” an official in Directorate General of Hydrocarbon (DGH) said, requesting anonymity.

Cairn may get more time to explore Rajasthan oil field - Economic Times

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