Oil and Natural Gas Corporation today said Cairn Energy Plc required its consent besides government approvals to “consummate” the proposed sale of Cairn Energy’s stake in Cairn India to Vedanta Resources.

The government-controlled company has affirmed its pre-emptive rights in relation to Cairn’s participating interest under the various agreements with the government and ONGC.

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Informing the Bombay Stock Exchange and the National Stock Exchange, ONGC company secretary N K Sinha said, “ONGC has examined the relevant agreement signed by Cairn Energy Plc and its affiliates with the government of India and inter-se with ONGC as one of the participating company(ies) in the various oil blocks/fields and other related documents.”

Cairn Energy had last Friday responded to a government request for information on the deal. Through a letter, the company “introduced” the Anil Agarwal group and presented details of the deal to the ministry of petroleum and natural gas. A senior official had earlier told Business Standard the government would not block the deal.

The proposed deal, which could see the Vedanta group spending up to $9.6 billion to acquire 51-60 per cent in Cairn India through group companies Sesa Goa and Vedanta Resources, has not gone down well with ONGC — a partner with Cairn India in all its three producing blocks besides five others.

Cairn India has 10 blocks in India, including the Barmer block in Rajasthan, which has added around 18 per cent to India’s crude oil production of 674,000 barrels a day. ONGC has 30 per cent participating interest in the block but pays the entire royalty amount on the production.

Sesa Goa has come out with an open offer to acquire up to 20 per cent shares in Cairn India through the market on behalf of Vedanta. The open offer will begin on October 11.

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