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Govt rejects Cairn appeal to renew Rajasthan block deal

Oil & Gas
November 1, 2015November 1, 2015
Govt rejects Cairn appeal to renew Rajasthan block deal
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The government has rejected Cairn India´s plea to renew the contract for the prolific Rajasthan block with the existing terms and conditions and has asked for the investment plan for the renewal period to assess the extent to which the state´s share of profit can be raised. Cairn India, controlled by billionaire Anil Agarwal, is seeking to extend the contract to operate the oil and gas block in Barmer, Rajasthan by 10 years after the 20-year agreement runs out in 2020.

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