Clears KG-D6 investment plan RIL also allowed to declare commerciality of certain wells in NEC 25, KG-D6

The face-off between the government and Reliance Industries Ltd (RIL) is nearing an end, with the petroleum ministry agreeing to exempt the country’s largest private sector petroleum company from a performance audit. Simultaneously, the pending approvals for RIL’s KG-D6 block have also been granted. In a letter sent to RIL yesterday, the ministry has said an audit under section 1.9 of accounting procedure in the production sharing contract (PSC) would be conducted.