Liquidated Damages Recovered at Dibrugarh ETP Project,Oil India Clarifies

The liquidated damage (LD) has already been recovered w.r.t. the construction of ETP at Tengakhat, Dibrugarh, the Oil PSU stated.

Liquidated Damages Recovered at Dibrugarh ETP Project,Oil India Clarifies

State-owned oil PSU, Oil India Ltd has confirmed through exchange filing that Liquidated damages are recovered at the Dibrugarh plant and significant losses are reported by recent audit reports.

 It has been mentioned by the company that the Baghjan Madhuban Pipeline was completed on time and the connectivity to the national gas grid will be made at the earliest aligned with NorthEast Hydrocarbon Vision 2030. Similar efforts are underway to complete Nadua-Khagarijan OCS and Baghjan GGS by December 2024.

As per the information, the liquidated damage (LD) has already been recovered w.r.t. the construction of ETP at Tengakhat, Dibrugarh.

 

Read Also : HPCL and Oil India sign MoU to explore energy sector

The delay against the above mentioned projects will be dealt as per contractual provisions once commissioned. According to the exchange filing, the audit done by CAG during their annual evaluation process have made the responses to be submitted by OIL.

Moreover,  following the grant of MAHARATNA status to OIL, restructuring and automation of various activities are underway in FHQ at Duliajan to bring in operational efficiency.

 Further, Oil India refinery has decided to develop Duliajan as a SMART city and necessary actions have already been initiated.

Read Also : RBI launches three major initiatives