'Oil Min, DGH bent rules for RIL in KG-D6 gas fields' - Economic Times

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NEW DELHI: The CAG has said the Oil Ministry and its technical arm, the DGH, bent rules for Reliance Industries , but did not conclusively say if the Mukesh Ambani firm overbilled the government on its KG-D6 gas fields to adversely impact government revenues.

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In a draft audit report on the KG-DWN-98/3, or KG-D6, block, the Comptroller and Auditor General (CAG) said the Directorate General of Hydrocarbons (DGH) allowed Reliance to hike capital expenditure for developing Dhirubhai-1 and 3, the largest of 18 gas finds in the block, by 117 per cent.

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In a draft audit report on the KG-DWN-98/3, or KG-D6, block, the Comptroller and Auditor General (CAG) said the Directorate General of Hydrocarbons (DGH) allowed Reliance to hike capital expenditure for developing Dhirubhai-1 and 3, the largest of 18 gas finds in the block, by 117 per cent. "The increase in cost from (USD 2.39 billion in the) Initial Development Plan to (USD 5.196 billion) in the Addendum to the Initial Development Plan is likely to have a significant impact on the government of India's financial take.

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'Oil Min, DGH bent rules for RIL in KG-D6 gas fields' - Economic Times

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This page contains a single entry by Viraj published on June 13, 2011 5:20 PM.

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