Fetching News Details
According to bid information available with DGH, Vedanta-owned Cairn India will attract a penalty of $0.1 million if it fails to fulfil exploration commitment for the 41 oil blocks won under OALP. Award of blocks were based on the commitment to explore and drill for oil and gas, and government’s share in the hydrocarbons produced. DGH gave equal weightage to both these parameters.
