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Resolving differences over PSC conditions: DGH's recommendations gather dust
Mar 28: The petroleum ministry has not acted yet on a series of suggestions given by a Committee of DGH on measures to resolve differences between the government and operators in the implementation of the PSC.
8The committee had suggested a slew of measures
8The only suggestion that has been accepted so far is on the changing of the seat of arbitration to India.
8The government claims that Good International Petroleum Industry Practices have been codified and Guidelines for Site Restoration have been prepared to reduce ambiguity, thereby reducing the possibility of litigation.
8What the government says is that it is giving the operators as of now is an informal "Forum" within the ministry where they can go to resolve their issues relating to gas balancing and abandonment obligations and other problems.
8This is a non-transparent methodology, wherein industry representatives meet officials, ranging from deputy secretaries, joint secretaries and the secretary and perhaps the ministry to put forward their point of view
8Clearly an out-of-box solution eludes the government.
8For reference purposes, the website carries here the number of arbitrations and disputes that the government is facing at this juncture
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