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PAC seeks explanations from Petro ministry

Last Updated: Thursday, January 12, 2012 - 20:04

New Delhi: Parliament`s Public Accounts
Committee on Thursday sought explanations from officials of the
Petroleum Ministry on CAG`s findings related to shortcomings
in production sharing contract, investment returns and the
like in the KG Basin and other gas fields.

In today`s meeting, chaired by PAC Chief Murli Manohar
Joshi, the government faced a volley of questions on the
observations made by CAG in its report on hydrocarbons.

Though the questions pertained to a variety of related
issues, sources said most of them were directed at the
reported anomalies in the oil and gas exploration and
production being carried out by Reliance Industries in D6 gas
fields in the Krishna-Godavari Basin.

The government was represented by Petroleum Secretary
G C Chaturvedi and Directorate General of Hydrocarbons S K
Srivastava, among others.

"The officials were asked about the profit sharing
formula and investment return policies among other issues,"
sources said.

First Published: Thursday, January 12, 2012 - 20:04
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