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Cairn deal: ONGC maintains it has first right of refusal

Our Bureau

New Delhi, Jan. 30

ONGC on Sunday maintained that it has contractual rights on the fields it jointly owns with Cairn and, therefore, had the first right of refusal for any stake sale by Cairn plc in those fields.

It, however, sees scope for quick resolution to the issues involved if there were to be bilateral discussions with Cairn plc on the Cairn-Vedanta deal.

“We have nothing against the Cairn-Vedanta deal. We want the issues resolved. ONGC has categorical first right of refusal. We have taken the opinion of the Solicitor-General,” Mr R.S. Sharma, Chairman and Managing Director, told reporters here.

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