Production sharing contract for Vedanta's Ravva block extended by 10 years

The contract will now be valid until 2029. The extension will enable the Joint Venture partners to recover about 13 million barrels of oil equivalent, Vedanta said in a statement. In addition, the joint venture partners will invest Rs 550 crore to drill seven wells targeting additional reserves of 11.7 million barrels of oil equivalent, it said.

from Energy-Industry-Economic Times https://ift.tt/32eTUQw