Centre gets more time to decide on extension of Cairn's Barmer PSC

Firm wants current PSC to last till 2030, has moved court over govt delay in decision on the matter

The Delhi High Court on Tuesday granted the Central Government time till February 28 to take a decision on Cairn India’s application seeking the extension of a production-sharing contract (PSC) for extraction of oil in Barmer, Rajasthan.

Cairn India, a subsidiary of the UK-based Vedanta group, currently has a PSC with Oil and Natural Gas Corporation Limited (ONGC) for producing oil from the Barmer fields till 2020. The company wants the present PSC to be extended up till the year 2030 and has filed a petition in Delhi High Court, after being dissatisfied with inordinate delays by the government