Pursuant to provisions of Regulation 30 of Listing Regulations, we wish to inform that the Hon'ble Delhi High Court on May 31, 2018 allowed the writ petition filed by Vedanta Limited ('the Company'), directing Government of India to extend the Production Sharing Contract for the Rajasthan Block for a period of 10 years beyond the current contract term in accordance with Article 2.1 of the Production Sharing Contract on the same terms and conditions.
The Hon'ble Delhi High Court whilst pronouncing the judgment also directed Government of India to formally communicate its decision extending the Rajasthan Block Production Sharing Contract within two weeks. A copy of the judgement of the Hon'ble Delhi High Court is still awaited.
Key data points: The growth forecast = 6.6% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities and forecasts in smart oilfield market to 2031 by component (hardware, software, and services), technology (internet of things, artificial intelligence & machine learning, cloud computing, data analytics, and automation & remote monitoring), application (upstream activities, midstream activities, and downstream activities), end use (independent oil & gas operators, national oil companies, international oil companies, service companies, government & regulatory bodies, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
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