Feb 22: In a controversial move, Nagaland came out with its own Production Sharing Contract and awarded an oil field to a private company
8The state claims that it had the constitutional privilege to come out with its own oil field policy
8There are now constitutional problems and high court orders on the subject which can be of some interest to industry watchers
8But ironically enough, the private E&P outfit which was awarded the contract, it turns out, is a fraudulent company.
8There is no doubt that Nagaland is rich in hydrocarbons and ways have to find to tap this resource.
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