RIL, BP to invest $5 bn in flagging KG-D6 gas fields
Dudley said: "We will bring all our expertise in deep water to explore the prolific gas basins in India and BP looks forward to a rewarding and successful exploration programme in the coming years."
Sources with direct knowledge of the development said RIL-BP may have sought to strongly counter what they consider twisting of facts by certain quarters on the issue.
They said there were disagreements on the scope of audit that cropped up on the very first day the Comptroller and Auditor General of India (CAG) began the second round of audit last month, as RIL felt the auditor was not confirming if the accounts scrutiny would be as per the provisions enshrined in the Production Sharing Contact (PSC).
RIL points to Oil Ministry's written assurance that CAG would follow the audit process set out in Section 1.9 of the Accounting Procedure of the PSC and that it would not be a performance audit of the contractor. But CAG at the January 9 audit kick-off meeting did to give any such assurance.
Sources said the CAG in the first round of audit for 2006-07 and 2007-08 has already audited about Rs 40,000 crore of investment and in the second round (for 2008-09 to 2011-12) only a small sum remains to be scrutinised and not Rs 25,000 crore as being claimed.
KG-D6 gas pricing from April next year
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