Economy

Vedanta likely to fork out more for its Barmer asset, says report

Updated : September 17, 2018 12:11 PM IST

The discussions are taking place as the current contract is set to end in 2020: report

The sources sought to downplay the figures involved, but some of them indicated that it could be more than $10 million, the report said.

Vedanta likely to fork out more for its Barmer asset, says report

Vedanta Group may have to chalk out more as the operator for its most prolific oil and gas producing asset in Rajasthan's Barmer, reported Business Line.

The operator will have to fork out the additional amount as part of profit petroleum that it has paid to the government for the previous years, the report said citing unidentified sources.

The sources sought to downplay the figures involved, but some of them indicated that it could be more than $10 million, the report said.

According to the report, the government and the operator have had differences over the terms of the contract. While the government wants the fiscal terms to be reworked — to provide for almost 10 per cent higher share of profit petroleum — in order to extend the contract, the company wants it under the existing terms.

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