How govt\'s late afterthoughts and claims have haunted oil and gas sector

How govt's late afterthoughts and claims have haunted oil and gas sector

Problems in production-sharing agreements with the government have haunted private oil and gas companies for years

Topics
oil and gas sector | Cairn Oil & Gas | Cairn India

Shine Jacob 

Old timers in Cairn Energy used to call the find a “living goddess” because of its productivity. Maybe that was why the company chose to immortalise it by naming it Aishwarya, for the former Miss World-turned-actor, when it was discovered in 2000.

In 2020, however, Aishwarya is one of three fields owned by Cairn Oil & Gas — Mangala and Bhagyam being the other two — that is mired in controversy. In 2011, the Rajasthan fields became part of Anil Agarwal’s Vedanta group. This May, the government sent Vedanta an arbitration notice involving a $520 million ...

First Published: Mon, June 08 2020. 21:18 IST