ECS recommends rejecting Reliance bid for two blocks
New Delhi: A high-level panel of secretaries has recommended rejecting bids by Reliance Industries and state-owned Oil and Natural Gas Corp for the Andaman sea block as they had offered “very low” profit share to the government. RIL, which had bid for six out of the 34 areas offered for exploration under the ninth auction round of New Exploration Licensing Policy earlier in 2011, was ranked number one for the Andaman deepsea blocks, AN-DWN-2010/3 and AN-DWN-2010/4, ahead of a consortia of ONGC and Oil India Ltd. ECS in its recommendations, which would go to the Cabinet Committee on Economic Affairs, opined that RIL should not be awarded these two blocks, they said. The panel recommended award of two shallow water and two onland blocks to consortia led by ONGC. The remaining five blocks were recommended for award to companies like Sankalp Oil and Natural Resources, Pratibha Oil and Natural Gas Pvt Ltd and Pan India Consultants.
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