Oil regulator DGH has recommended an additional penalty of $781 million on Reliance Industries, taking the total fine on the company for producing less than projected natural gas from KG-D6 fields to $1.786 billion. The Directorate General of Hydrocarbons (DGH) last month recommended to the Oil Ministry that $781 million of the cost RIL has incurred in KG-D6 fields be disallowed for producing only an average of 26.07 million cubic meters per day of gas as against the target of 86.73 mmcmd in 2012-13. This will be in addition to $1.005 billion in cost recovery already disallowed for output falling short of targets during 2010-11 and 2011-12, a top official said.
Posted on: Wed, 07 Aug 2013 13:32:14 +0000
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