Parl Panel Calls For Review Of All Contracts Of RIL KG-D6 Block
New Delhi, Dec 22: With gas production at Reliance Industries' KG-D6 block falling by more than one-third, a Parliamentary panel has called for review of all contracts and asked government to impose stringent provisions for failure to stick to committed work programme like drilling of wells. The Standing Committee on Petroleum and Natural Gas in its report tabled in Parliament today expressed surprise that "there is no specific penalty stipulations in Production Sharing Contracts in case of shortfall in achieving the production targets envisaged in either the approved field development plan or annual work programme and Budget." The Oil ministry told the committee that Directorate General of Hydrocarbons is asking "the operator to expeditiously drill wells in line with the approved Field Development Plan during the 2012-12, which may help to revive the falling gas production from these fields." "The Committee would like to know the findings of DGH relating to the well-wise performance analysis to ascertain the reasons of decline in gas production from existing wells," the report said.
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