DGH for stiff penalties on ONGC, Reliance

Directorate General of Hydrocarbons (DGH) has recommended stiff penalties on Oil and Natural Gas Corp (ONGC) and Reliance Industries(RIL) for defaulting on New Exploration Licensing Policy (NELP) commitments made by them.

The directorate has recommended a total penalty of $107.391 million on ONGC and $26.535 million on RIL for failing to fulfill the work programmme committed on the blocks awarded to them under NELP, DGH sources said.

RIL was fined for not meeting the minimum work commitment in 4 blocks while ONGC was fined for not meeting the minimum work commitment in 6 blocks, sources said.