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News Brief | November 2013

RIL may retain $10 billion oil fields Ministry to seek cabinet nod

The oil ministry will seek cabinet approval for a general amnesty scheme for oil and gas field operators, which will allow Reliance Industries to retain fields worth $10 billion, which regulatory authorities want it to surrender saying the contractor did not meet deadlines. Apart from Reliance, several other companies are involved in disputes and are unable to develop proven oil and gas fields because the directorate general of hydrocarbons (DGH) is reluctant to take a decision on issues that are not clearly articulated in the contracts.
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