Vedanta Oil & Gas gets MoPNG nod for participating interest assignment

Vedanta Oil and Gas Ltd has received a 'No Objection' from the Ministry of Petroleum and Natural Gas (MoPNG), Government of India, for the assignment of participating interests and operatorship of oil and gas blocks. This approval is in relation to the Scheme of Arrangement that became effective on May 1, 2026. The MoPNG's approval is subject to Vedanta Oil and Gas assuming pending liabilities of Vedanta Limited related to exploration and production contracts. The communication also addresses Block CB-OS/2, noting Vedanta Limited's successor-in-interest status and the Delhi High Court's upholding of MoPNG's decision to reject the PSC extension. Vedanta Oil and Gas is advised to comply with several conditions, including intimating demerger effectiveness, submitting amendments to contracts, furnishing fresh bank guarantees, and discharging all outstanding government dues.