Vedanta receives Rajasthan PSC extension

Oct. 29, 2018
Vedanta Ltd. unit Cairn Oil & Gas has received its court-directed extension of the production-sharing contract covering oil and gas production in Rajasthan, India. The Ministry of Petroleum and Natural Gas of India extended the PSC for the RJ-ON-90/1 block by 10 years from May 15, 2020, the day after the scheduled expiration.

Vedanta Ltd. unit Cairn Oil & Gas has received its court-directed extension of the production-sharing contract covering oil and gas production in Rajasthan, India.

The Ministry of Petroleum and Natural Gas of India extended the PSC for the RJ-ON-90/1 block by 10 years from May 15, 2020, the day after the scheduled expiration.

The Delhi High Court in May had directed the government to act on the long-delayed extension request (OGJ Online, June 1, 2018).

Cairn has made 38 discoveries on the 2,111-sq-km block, including Mangala, Bhagyam, and Aishwariya oil and gas fields, Rajasthan’s largest.

The company early last year reported average gross operated production in Rajasthan of 157,338 boe/d.

It operates the extended PSC with a 70% participating interest. State-owned Oil & Natural Gas Corp. holds the remainder.