Reliance Industries Ltd said that it will continue to co-operate with the Government for audit according to the provisions of the PSC.
The company said that it will not be able to comment on the contents of the CAG Final Audit Report on Hydrocarbon Production Sharing Contracts (PSC), including that of KG D6 Block for the years 2006-07 and 2007-08, as it has not yet seen it.
But, it maintained that, in KG D6, RIL has set a global benchmark for effective, efficient project completion and capital cost competitiveness under the most trying circumstances and was proud of its achievements.
The company further said that is had already provided to Ministry of Petroleum and Natural Gas, the Directorate General of Hydrocarbons (DGH) and CAG its detailed comments along with the views of international experts on such parts of the draft report that had been communicated to the company.
“We hope our detailed responses and the views of industry experts have been duly considered in finalising the Audit Report. We reiterate that, as a contractor, we remain committed to complying with the PSC provisions and procedures including adopting Good International Petroleum Industry Practices in our operations,” the company added.
Since many of the comments in the Draft Report had referred to issues that were technical in nature, the company had offered to CAG a complete and thorough interaction with subject matter specialists. “We remain open to such interaction at all times,” it added.
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