Friday, February 14, 2020

RIL wins Panna-Mukta and Tapti fields case

Reliance Industries and its partner Shell has won the court case in U K. The U K High Court has rejected Indian government's challenge to the recovery of certain costs in the western offshore Panna-Mukta and Tapti oil and gas fields they operated.
The government had sought $3.5 billion in dues from Reliance and Shell-owned BG Exploration & Production India based on an October 2016 partial award of an international arbitration tribunal over the recovery of certain costs from the sale of oil and gas produced from the Panna-Mukta and Tapti fields.
The two firms had gone to the U K  High Court against the 2016 partial award.

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