Business Daily from THE HINDU group of publications
Wednesday, Aug 23, 2006
Business Daily from THE HINDU group of publications Wednesday, Aug 23, 2006 |
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Corporate - Corporate Disputes
Richa Mishra
Contentious points The Petroleum Ministry has maintained that the bids have been evaluated based on a composite weightage. RNRL argues that three marks out of the 100 marks on which the Directorate General of Hydrocarbons and the Ministry had discretion were non-transparent.
New Delhi , Aug. 22 The Cabinet Committee on Economic Affairs (CCEA) may take a final call on the objections raised by the Anil Ambani- led Reliance Natural Resources Ltd (RNRL) on bid evaluation process for the award of blocks for coal bed methane (CBM) under the third round. RNRL-Reliance Energy-GeoPetrol International consortium, which is likely to bag four blocks out of the 10 on offer under CBM-III, has expressed concern about the subjectivity of the evaluation process, as it felt that it could be winning six blocks out of 10 and not just four. However, the Petroleum Ministry has been maintaining that it has considered all objections raised by the RNRL consortium and found them to be untenable. Having got the nod from the Empowered Committee of Secretaries, the Ministry is now ready to take up the proposal to the Cabinet for its consideration and approval to award blocks for CBM-III. Consequently, it is now left to the Cabinet to take a final view on RNRL's objections. The consortium in its representation to the Ministry has said that it was offered the best production level payment (PLP) in respect of the two blocks, which will result in better revenue to the Government. Sources told Business Line that while REL-RNRL-GeoPetrol consortium have been recommended for four blocks, Arrow Energy-GAIL (India)-EIG Infrastructure Group-Tata Power is expected to get two blocks, and Arrow Energy-GAIL-EIG may get one block. Coal Gas Mart-Adinath Exim Resources-Deep Industries, Coal Gas-Deep Industries, and British Petroleum are expected to get one block each. The Petroleum Ministry has maintained that the bids have been evaluated based on a composite weightage given to technical, work programme and fiscal package as per the bid evaluation criteria and terms and conditions of the bid documents made known to the bidders before the submission of the bids. Sources point out that RNRL should have objected before the evaluation began. Incidentally, RNRL has scored much better on the two criteria — technical assessment and any other work considered necessary by the bidder — for the four blocks it is likely to win when compared with the two in contention. RNRL has been arguing that three marks out of the 100 marks on which the Directorate-General of Hydrocarbons and the Ministry had discretion to assess and allocate the points were non-transparent, and, hence, arbitrary. The empowered committee of secretaries had also discussed the issue of allocation of the three points.
Related Stories: More Stories on : Coal | Corporate Disputes | Reliance Energy Ltd
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