Rupee Expected In 42.75-90 Range

The government has decided to go ahead with the award of the 12 discovered oilfields, bids for which were invited more than two years back.

Though the government had shortlisted the companies and consortium to which these fields were to be given for development and production of crude oil and gas, the award had been held up because of a public interest litigation over the award of the Panna and Mukta oilfields in Bombay offshore to the Reliance-Enron consortium. The Comptroller and Auditor-General had also made adverse remarks about the manner in which award was made.

The government has now ensured that more transparency is brought into the process of selection for the award of contracts. It has been decided that the 12 contracts will be awarded to the companies and consortiums that had been shortlisted earlier. These parties will soon be invited by the petroleum ministry for talks on production-sharing contracts.

Ministry officials made it clear that the fields could be offered to others only if the shortlisted parties withdrew their offer.

The fields and their companies or consortiums and their participating interests are: Ratna and R-Series: Premier Oil Plc 10 per cent and Essar Oil Ltd 90 per cent. North Balol: Amec Heritage of the UK 30 per cent, GSPC 40 per cent and HOEC 30 per cent. North Kathana: Amec Heritage 30 per cent, GSPC 40 per cent and HOEC 30 per cent. Allora: Amec Heritage 30 per cent, GSPC 40 per cent and HOEC 30 per cent. Unava: Amec Heritage 30 per cent, GSPC 40 per cent and HOEC 30 per cent. Amguri: Joshi Technologies of the US 25 per cent and Assam Co 75 per cent. Kanwara: Amec Heritage 30 per cent, GSPC 40 per cent and HOEC 30 per cent. Dholasan: Amec Heritage 30 per cent, GSPC 40 per cent and HOEC 30 per cent. Karjisan: Selan Exploration Technology 100 per cent. Modhera: Interlink Petroleu- m Ltd 100 per cent. Ognaj: Selan Explo- ration Technology 100 per cent. Sanganpur: Hydrocarbon Resou- rce Development Co 100 per cent.