CAG's report on oil & gas raises both specific & systemic issues - Economic Times

The CAG report of its special audit of operations in four oil and gas blocks, including that in the KG basin operated by RIL , raises both specific and systemic issues that do need to be addressed and followed up on.

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Specifically, the observations pertain to field activities in the KG field on items of additional project expenditure that were initiated well before the addendum costs were approved: the project expenditure did go up from $2.4 billion to $5.2 billion. Also in the KG field, questions have been raised about the award of a $1.1 billion 10-year contract for an offshore production vessel, on the basis of a single financial bid.

CAG's report on oil & gas raises both specific & systemic issues - Economic Times