PSC is an agreement between Contractor and the Government of India whereby Contractor bears all exploration risks, production and development costs in return for its stipulated share of production resulting from this effort. These costs are recoverable in case of commercial discovery.
Following major activities are primarily being carried out in monitoring PSC
Extension of phases, relinquishment of acreages, assignment, appointment of auditor, approval of auditing account and other PSC related issues as and when arise.
