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Big win for RIL: E&P wing set to do better
Aug 01: RIL has won the arbitration battle against the $1.55 billion claim by the government over the so-called gas migration dispute.
8This is a big shot-in-the-arm for the private sector giant, currently under pressure on its E&P business on account of falling D-6 output even as it waits for new gas to come in from fresh investments in the KG basin.
8The crux of the argument against the government by the tribunal is that the Production Sharing Contract does not prevent the contractor from producing gas, irrespective of its source, as long as the producing wells are located inside the contract area.
8The government is still to decide on the next course of action. Arbitration procedures have now become complicated and it will take years of litigation before either side can come out a clear winner.
8RIL's E&P division is expected to see a big turnaround once new gas begins to flow in from the monetization of its discoveries in the KG Basin, beginning 2020.
Click on Reports  for a glimpse of how RIL is now firing from all cylinders in nearly all its business segments.  


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