The ministry of petroleum and natural gas said on Monday that it will reply within two weeks to the CAG's criticism that it had allowed some private explorers to overstate costs of field developments and to carry out exploration beyond contracted areas.
Speaking to reporters a day after HT reported the CAG's findings, petroleum and natural gas minister Jaipal Reddy said: "(The) companies concerned, accused of so many things, will also reply. It will culminate in an exit conference."
The petroleum ministry said in a statement, "The ministry is examining the draft report. It will prepare a reply to the audit observations after obtaining details from relevant agencies and send it to the office of the principal director of audit for further action."
RIL issued a statement saying, "Reliance strongly affirms that as a responsible operator, it has fully complied with the requirements in the PSC at all times in conducting petroleum operations, and refutes any suggestion to the contrary."