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DGH cites difficulty in implementing FinMin suggestion on Reliance Industries

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DGH highlighted difficulties in adhering to production deadlines because of various operational reasons. (AP) DGH highlighted difficulties in adhering to production deadlines because of various operational reasons. (AP)
SummaryDGH highlighted difficulties in adhering to production deadlines because of various operational reasons.

nature of goal posts," DGH wrote.

DGH also highlighted difficulties in adhering to the production deadlines because of "various operational reasons".

The technical adviser of the ministry also found it difficult to monitor the actual output vis-a-vis targets because a block like KG-D6 can have multiple gas fields and some of them could produce more than target while others could be less, and accumulative figures for the entire block could be totally different than initial estimates.

Finance Ministry had on July 4 written that "Once Reliance overcomes technical difficulties of producing gas at the KG-D6 field, the government must ensure the company delivers the shortfall it still owes at the old price of USD 4.2 rather than getting the benefit of the new price."

"The 'shortfall' will essentially be the cumulative 'targeted production up to March 30, 2014 minus the actual cumulative production during the same period. However, there are certain difficulties in estimating both the targeted production as well as actual production," DGH wrote to the oil ministry.

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