Won gas block through competitive bidding: Jubilant
Posted on: 09:58 PM IST Dec 04, 2012
New Delhi: Jubilant Energy on Tuesday said it won the KG Deendayal gas block through international competitive bidding and did not get participating stake of 10 per cent as "gift" from the Gujarat government. "Jubilant Energy (subsidiary of Jubilant Enpro) won this block under international competitive bidding under the third round of New Exploration Licensing Policy of the Government of India. Jubilant Energy is a partner in the block and pays fully for its 10 per cent share of expenditure," the firm said in a statement.
The company denied charges made by social activist Arvind Kejriwal, who has alleged that the entity got a gift of 10 per cent participating interest in KG Deendayal block from the Gujarat government. According to the statement, Jubilant is the original partner in this block along with Gujarat State Petroleum Corporation Ltd (GSPC) - the operator of the block.
"This block was awarded by the Ministry of Petroleum and Natural Gas, Government of India along with 22 other blocks at the same time to various parties, both PSU's and private sector. This block was originally an exploration block and the first discovery in this block was made much later in 2005," it said.