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The Comptroller and Auditor General has said its findings Reliance Industries Ltd and its partners have recovered $9.2 billion of its cost incurred for developing the KG-D6 block on the eastern cost of India.
The findings were part of the apex auditor’s report on Hydrocarbon Production Sharing Contract. According to the audit findings, the total expenditure incurred by the contractor -- RIL and its partners -- in the block is $10.44 billion till March 2013.
The report added that out of the profit petroleum of $1.03 billion till March 2013 of which RIL and its partners have made $929.32 million while the Government of India has got $103.26 million.
The report was tabled in the Parliament on Friday.
The audit recommends that Ministry for Petroleum and Natural Gas and Directorate General of Hydrocarbons should take action for time approval of the work programme and budget in the future and also ensure that the disallowed cost of three wells amounting to $160.81 million is recovered.
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