Cairn India plans to obtain a 10-year extension for its licence to explore and produce oil and gas from the Rajasthan block; however, it may have to pay more profit petroleum to the government to get a term beyond 2020. A committee headed by the Directorate General of Hydrocarbons on policy for grant of extension to the production sharing contracts for small, medium-sized and discovered fields has recommended a uniform 10-year extension but on revised terms and conditions. The panel has recommended that contracts may be extended for 10 years for both oil and gas fields or the balance economic life of the field, whichever is earlier, but with revised terms and conditions. Contact: cairn india.
Tel: 0124-476 4000.