Oil and Natural Gas Corporation (ONGC) today told the Delhi High Court that it has suffered loss of gas worth Rs 30,000 crore as a result of Reliance Industries Ltd (RIL) exploiting gas from its natural gas block in Krishna-Godavri basin.
RIL contended before the court of Justice Manmohan that an independent expert panel can determine whether its gas well is interconnected with that of ONGC and what is the quantum of gas withdrawn by RIL and other issues raised by the PSU.
The Centre, represented by advocate Neeraj Chaudhari, meanwhile submitted before the court that as per a meeting held between the two companies and Directorate General of Hydrocarbons (DGH), it has been decided to appoint an expert panel.
After going through the minutes of the meeting, the court asked ONGC to file its counter to the same and listed the matter for further hearing on August 12. As per the minutes of the meeting held on May 23, 2014, it has been decided by ONGC, RIL and DGH to send enquiry notices to four third party consultants prior to appointment of one of them as the expert panel. It was also decided in the meeting that all data that will be shared with the finally selected independent agency and it will be done through DGH.
After appointment of the independent agency, ONGC, RIL and DGH would work out the project management modalities, the minutes said.
ONGC in its plea has contended that RIL has drawn out 18 billion cubic meters of natural gas from the combined reserves of both companies since 2009.