RIL to stop exploration

“The company today made a presentation to the ministry seeking relief for not being able to meet its commitment for drilling wells on 14 blocks during 2006 and mid-2009 when there was an acute shortage of drilling rigs,” a Petroleum Ministry official said. Firms like Oil and Natural Gas Corp (ONGC) and RIL have not been able to meet their work commitments for the blocks or areas they had won under the New Exploration Licensing Policy (NELP) rounds and an Empowered Committee of Secretaries has twice - the last being in January this year - cleared grant of a three-year drilling holiday or moratorium. Despite being cleared by the ECS, the Petroleum Ministry has failed to move the Cabinet on the issue.