Government of India extends
the tenure of the Production Sharing Contract (PSC) for Rajasthan
Block (RJ-ON-90/1)
MUMBAI, India, Oct. 29, 2018 /PRNewswire/ -- The Government of
India, acting through the
Directorate General of Hydrocarbons, Ministry of Petroleum and
Natural Gas (the "GoI") has granted its approval for a ten-year
extension of the PSC for the Rajasthan Block, RJ-ON-90/1 (the "RJ
Block").
The tenure of the RJ Block PSC is due to expire on
14th May, 2020. The tenure of the RJ Block PSC has
been extended for an additional period of 10 years with effect from
15th May, 2020. Such extension has been granted by the
GoI, pursuant to its policy dated 7th April, 2017 for
extension of Pre-New Exploration Licensing Policy ("Pre-NELP")
Exploration Blocks PSCs signed by the GoI (the "Pre-NELP Extension
Policy"), subject to certain conditions. The applicability of
the Pre-NELP Extension Policy to the RJ Block PSC is currently sub
judice.
About Vedanta Limited
Vedanta Limited is a diversified natural resources company,
whose business primarily involves producing oil & gas, zinc -
lead - silver, copper, iron ore, steel, aluminium and commercial
power. The company has a presence across India, South
Africa, Namibia,
Australia and Ireland.
Vedanta Limited is the Indian subsidiary of Vedanta Resources
Plc. Governance and Sustainable Development are at the core of
Vedanta's strategy, with a strong focus on health, safety and
environment and on enhancing the lives of local communities. The
company is conferred with the Confederation of Indian Industry
(CII) 'Sustainable Plus Platinum label', ranking among the top 10
most sustainable companies in India. To access the Vedanta Sustainable
Development Report 2018, please visit
https://www.vedantalimited.com/VedantaDocuments/4SustainabilityReport2017-18.pdf
Vedanta Limited is listed on the Bombay Stock Exchange and the
National Stock Exchange in India
and has ADRs listed on the New York Stock Exchange.
For more information please visit
http://www.vedantalimited.com
Vedanta Limited
Vedanta, 75, Nehru Road,
Vile Parle (East), Mumbai - 400
099
http://www.vedantalimited.com
Registered Office:
Regd. Office: 1st Floor, 'C' wing,
Unit 103,
Corporate Avenue, Atul Projects,
Chakala, Andheri (East),
Mumbai – 400 093
CIN: L13209MH1965PLC291394
Disclaimer
This press release contains "forward-looking statements" – that
is, statements related to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance, and often contain words
such as "expects," "anticipates," "intends," "plans," "believes,"
"seeks," "should" or "will." Forward–looking statements by their
nature address matters that are, to different degrees, uncertain.
For us, uncertainties arise from the behaviour of financial and
metals markets including the London Metal Exchange, fluctuations in
interest and or exchange rates and metal prices; from future
integration of acquired businesses; and from numerous other matters
of national, regional and global scale, including those of a
political, economic, business, competitive or regulatory nature.
These uncertainties may cause our actual future results to be
materially different that those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.
For further information, please contact:
Communications
Arun Arora
Head,
Corporate Communications
Tel: +91-124-459-3000
gc@vedanta.co.in
Investor Relations
Rashmi Mohanty
Director
– Investor Relations
Tel: +91-22-6646-1531
vedantaltd.ir@vedanta.co.in
Sneha Tulsyan
Associate
Manager – Investor Relations