Mumbai: India’s largest private energy sector company, RIL expressed that the country does not offer a stable policy regime for oil exploration companies.
“We do not have a stable policy regime, which is very essential for any investor to come and invest, either in technology or put in a bid for exploration,” P.M. S. Prasad, Executive Director and Member on Board of Reliance Industries Ltd told media persons on the sidelines of a FICCI conference.
He further added that the there is a continuous erosion of NELP by taking away several of the rights that were given under the regime. “Not honouring the production sharing contract is the worst thing that can happen,” he said.
EPC World News Bureau
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