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ONGC wins Rs 1,000 crore cost disputes in 3 offshore blocks
![IndiaTimes]()
Tuesday, 23 January 2024
State-run ONGC wins international arbitration for Rs 1,000 crore against Petrobras, ENI, and Rocksource. The arbitration awards were unanimous, affirming ONGC's workmanship. The disputes involve offshore exploration blocks in the Mahanadi, Krishna-Godavari, and Cauvery basins, and pertain to cost-sharing issues after the foreign companies exited the partnership. The arbitrations were initiated between 2014 and 2016 through advocate K R Sasiparabhu.
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