IOC to bid for Cairn's oil and gas assets
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IOC to bid for Cairn's oil and gas assets

Thursday, 29 May 2003, 07:00 Hrs   |    1 Comments
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NEW DELHI: The State-run Indian Oil Corporation (IOC) will bid for acquiring Scottish explorer Cairn Energy Plc’s oil and gas assets in the Krishna Godavari basin, off the Andhra coast, company chairman M S Ramachandran said Monday.

"We will bid for KG basin assets of Cairn Energy by May 30, the last date for putting in initial bids," Ramachandran was quoted as saying. IOC was interested in Cairn Energy’s shallow water block KG-OS/6 and deepwater block KG-DWN-98/2, where the Scottish firm has discovered one trillion cubic feet of gas reserves and small quantities of oil.

The country’s largest oil refiner had initially evinced interest in bidding for Cairn’s India assets in partnership with state exploration firm Oil and Natural Gas Corporation (ONGC). But ONGC declined the offer saying it wanted to bid alone.

Besides ONGC, other firms looking at Cairn assets include state-owned gas firm GAIL and British oil and gas major BG Group. Cairn, which has set up a data room in Edinburgh, has also sent feelers to Reliance Industries Ltd (RIL).

ONGC had earlier bid for Cairn’s Krishna-Godavari basin deepwater block KG-DWN-98/2, shallow water block KG-OS/6 and CB/OS-2 block in Cambay basin. It, however, did not bid for Cairn’s 22.5 per cent stake in 65,000 barrels per day Ravva oil and gas field.

While Cairn is seeking to divest its stake in all its properties including Ravva field, it is not selling the RJ-ON-90/1 block in Rajasthan, the site of recent 20 million tonnes of oil find, and the previous Saraswati discovery that is estimated to have 14 million tonnes of in-place oil reserves.

Cairn has made five hydrocarbon discoveries in the CB/OS-2 Block since 2000 - Lakshmi gas, Lakshmi oil, Gauri (gas and oil), Ambe (gas and oil) and Parvati (oil). The Lakshmi gas has already been put to production and the company is selling 2.1 million standard cubic meters per day to Gujarat Powergen Energy Corporation (GPEC) and 1.3 mmscmd to Gujarat Gas Company Ltd (GGCL).
Source: IANS
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Reader's comments(1)
1: Dear Editor,

Govt. of India ,Public Accounts Committee of Parliament and CAG must review and revise the contracts/bids granted to RIL whose officers have acquired mastery in fraud, forgery and cheating to achieve Mukesh Ambani's ends. We in South Gujarat have first hand knowledge about nefarious activities of Mukesh Ambani's officers.

Many farmers & land owners in Maharashtra, Karnataka, Andhra Pradesh & Tamilnadu have had a taste of RIL/RGTIL/RELOGISTICS' iron fist covered in velvet gloves of development.

Mukesh Ambani, Parimal Nathwani, Hemant Desai and at least two of the Vice Presidents of RILat Hazira, Surat have overlooked fraud, forgery and cheating by RIL/RGTIL employees while helping the Competent Authority of RGTIL ar Surat, Gujarat in preparing Award of compensation under the Petroleum & Mineral Pipelines Act # acquisition of Right of User in land# 1962.

We term Mukesh Ambani as India’s Richest Beggar who aspires to become the richest man in the world , of course at the expense of India & Indians .To get the exact idea , please look into Desaibankim's Blogs : RGTIL VICTIMS UNITED.



Parimal Nathwani # MP -Rajya Rabha#from Jharkhand and Murli Mama @Murli Deora are his men in New Delhi to tackle Sonia Gandhi, LK Advani, Prakash Karat, Arun Jaitley ,Sushma Swaraj and important officers in various ministries.

The Supreme Court of India while inquring the assets of ex CJI Balakrishnan & his family members should inquire Mukesh Ambani's share in Justice#!#Balakrishnan's fortunes.He #Balakrishnan# was in unusual hurry to decide case pertaining to RIL,RNRL & Mukesh-Anil Ambani's interests. He decided the case in the days prior to his retirement. Mukesh Ambani has developed a practice of hiring and appointing counsels & senior counsels #practicing at SCI and various High Courts# capable to file/register case against him or his companies, on the panels of advocates of his companies .A stage has come when no advocate in India would venture to be his adversary's counsel or advocate. He is expert in managing judicial officers at various levels. Judgments in cases related to his interests are known as ‚Äúpen drives‚ÄĚ !

It is high time to nationalise RIL's refineries and Mukesh Ambani's RGTIL. He has virtually fleeced India & Indians by corrupting one and all. He is a real ever ready , perennial Tsunami for India , Indian democracy & polity.

Media #Print & TV# is reticent & is always afraid of publishing any news against Mukesh Ambani & his companies. He has no control whatsoever over Internet. So i am able to put my views in Blogs # Wordpress #, Twitter and Facebook notes to expose his anti-India activities.

Yours Truly,

Dr. Bankimchandra M.Desai

RGTIL VICTIM &

Convener of

All India Committee of Agriculturists Affected by RIL/RGTIL/RELOGISTICS.
03, Mahadevnagar Society,
Near Majura Gate, Ring road,
Sagrampura,
Surat 395002.
Cell Phone : +91-9426187102
Posted by:Bankimchandra - 30 Mar, 2011
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