 "Cairn dispute: Centre says tax rows can't be settled in global arbitration")
Anil Agarwal-led Cairn Oil and Gas, a vertical of Vedanta Ltd, has got a ten-year extension on its production-sharing contract (PSC) for Ravva block in Andhra Pradesh from the Directorate General of Hydrocarbons. The extension will enable the Joint Venture partners to recover 13 million barrels of oil equivalent (mboe).
With this extension, the PSC is now valid effective October 28, 2019, for the next 10 years. Ravva, the oldest producing asset in India for Cairn, becomes the first large field to get PSC Extension under the “policy for the grant of extension to the production sharing contracts signed by
