Telenor which participated in the November 2012 auction through new entity Telewings Communications and won spectrum in six circles said, “All Uninor customers from Maharashtra, Goa, Gujarat and other circles will continue to be able to use their Uninor phones in Mumbai
Private telecom services operator Uninor closed its Mumbai operations from midnight on Saturday following a Supreme Court order, which said all the operators who did not win spectrum in the previous auctions should close down services immediately.
The cancellation of licences has affected 1.8 million customers in Mumbai as of December 2012.
The court ordered that the cancellation of licenses should be effective immediately and no temporary license would be granted to the company.
Telenor is the majority stakeholder of the Uninor. Telenor won rights to airwaves in six of those zones in an auction in November and has said it might decide to bid for spectrum in Mumbai zone in an auction due in March.
Telenor’s permits in 22 zones were among those ordered to be revoked by India’s Supreme Court last year after a massive scandal over the grant of cellular licences in a 2008 sale.
However, Telenor which participated in November 2012 auction through new entity Telewings Communications and won spectrum in six circles, is now in process of transferring business of Uninor in Maharashtra and Goa, Gujarat, UP East, UP West, Bihar and Jharkhand and Andhra Pradesh service areas, to Telewings Communications.
Uninor said its operations in these service areas “will continue as fresh spectrum for 20 years has already been secured.” Uninor will also sign roaming agreements with other operators to ensure that all Uninor customers get seamless connectivity when travelling to Mumbai. “All Uninor customers from Maharashtra, Goa, Gujarat and other circles will continue to be able to use their Uninor phones in Mumbai,” it said.
In the best case scenario the growth could climb to 5.5% this fiscal, Planning Commission deputy chairman Montek Singh Ahluwalia said, adding “if there was strength in the recovery then many more signs would have been evident”
The Indian economy would grow at a rate of between 5% and 5.5% in current fiscal and could expand by 7% in 2013-14, said Planning Commission deputy chairman Montek Singh Ahluwalia.
His comments came after the Central Statistical Organisation (CSO) has projected 5% economic growth this fiscal in its advance estimates released earlier this month.
In the best case scenario the growth could climb to “5.5%” this fiscal, he said, adding “if there was strength in the recovery then many more signs would have been evident”.
Economic growth in 2011-12 slipped to 6.2% from 9.3% a year ago mainly on account of global factors and subdued investor sentiments.
Gross Domestic Production (GDP) of the country has grown by 5.5% in April-June quarter and further declined to 5.3% in July-September quarter.
The recent industrial production data which reflects the health of mainly the manufacturing sector has also portrayed a dismal picture. Manufacturing constitutes almost 75% of the IIP.
The factory output measured in terms of Index of Industrial Production (IIP) for December, 2012, contracted by 0.6% for second straight month. IIP declined by 0.8% in November 2012.
Cairn believes the Rajasthan block holds an in place resource base of 7.3 billion barrels that can support 300,000 bpd of output
After protracted delays, a block oversight committee, headed by the Directorate General of Hydrocarbons (DGH), on 14th February, allowed the company to drill its first exploration well on Rajasthan block in more than five years. The nod will help it boost output to 215,000 barrels per day by March 2014.
Cairn, which started production from Mangala oilfield—the biggest of the 25 oil and gas finds in the Barmer dessert block in Rajasthan—in August-end 2009, is produces around 170,000 barrels a day from the block.
It has plans to end the 2013-14 financial year with 200,000 to 215,000 bpd output and further exploration in the block is key to adding more reserves.
The proposal to allow exploration in a producing field was pending with the oil ministry for more than one and a half years. Only last month the ministry allowed firms like Cairn to drill probe wells within an oil and gas field, but with the condition that cost recovery of such wells would be allowed only in case there is a commercially exploitable discovery.
Sources said the so-called Management Committee (MC) had previously asked Cairn to detail its exploration campaign in form a work programme with requisite approval of a panel comprising of its partner Oil and Natural Gas Corporation (ONGC).
In all, Cairn plans to drill 30 exploration wells by March 2014, of which three would be in current year itself, sources said.
Cairn believes the Rajasthan block holds an in place resource base of 7.3 billion barrels that can support 300,000 bpd of output. This potential can be realised only if it undertake further exploration to locate the oil zones.
Sources said the Rajasthan JV comprising of Cairn and ONGC, has identified numerous prospects that will support, intensify the exploration efforts and enhance drilling activities.
The prospects could include both oil and gas. The rationale behind exploration of gas prospects was to augment the already-rich gas find in the Southern part of the block and explore possibilities of commercialisation beyond captive usage, they said.
Sources said at 175,000 bpd production, Cairn’s contribution to the government is more than Rs 12,000 crore annually in duties and taxes.
Cairn has till date invested over $ 4 billion in the Rajasthan development and operates nearly 25% of the country's domestic oil production.
Sources said the condition that cost recovery will be allowed only in case of successful discovery means that cost of drilling any well that does not lead to a discovery, or a small find that could not be independently produced, will not be allowed.
Currently, when a company finds oil or gas in an area, the discovery area is ring-fenced and a mining lease is granted for production of hydrocarbons.
Operators get to recover all their cost—whether successful or failed wells, from the oil and gas produced and sold from that particular block.