Mumbai, Aug. 27 (PTI): With only a month left for resolving the Panna-Mukta and Tapti operatorship row, British Gas India (BG) CEO Nigel Shaw today said partners Reliance (RIL) and Oil and Natural Gas Corporation (ONGC) cannot serve a termination notice to the energy major without appointing a new operator for joint venture oil and gas producing blocks.
“The ministry has given us a deadline till September-end to solve the Panna-Mukta operatorship issue. ONGC and Reliance cannot serve us a termination notice without appointing a new operator...The contract requires it… For which they need the government’s approval,” Shaw said here. He said the government had asked all the three partners to arrive at an ‘amicable’ solution failing which it would intervene to settle the issue.
Asked whether the partners would seek an extension from the ministry, Shaw said BG had at no point of time sought the government’s intervention and that it was the Centre’s decision to issue an ultimatum to partners for resolution of the row.
“In my inference the ministry wants to solve the issue at the earliest as it is delaying the investment programme, necessary for critical development of the three fields,” Shaw opined.