Cairn India's Raj oil fields may return to ONGC if term not extended

May 25 2014, 21:17 IST
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The Rajasthan PSC provides for a 5-year extension beyond 2020. The Rajasthan PSC provides for a 5-year extension beyond 2020.
SummaryONGC pays royalty on not just its 30 pct stake, but also on Cairn India's 70 pct interest.

maximum production to the nation and maximum revenues to the government," the spokesperson said.

Stating that the industry was looking forward to time- bound decision making to revive investments in the sector, he said Cairn was "confident that a positive decision will be taken at the earliest that will send an unambiguous message about our collective resolve to urgently attend to India's growing energy demand."

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