(1.) This petition is preferred by the petitioner under Section 9 of the Arbitration and Conciliation Act, 1996 to seek the following reliefs:
(2.) The petitioner claims that it is an oil and gas exploration and production company incorporated under the laws of the Province of Alberta, Canada. The respondent is the Union of India, represented by the Joint Secretary, Ministry of Petroleum and Natural Gas.
(3.) The President of India entered into a Production Sharing Contract (PSC) dated 23.02.2001 in respect of the Amguri oil field in the state of Assam, with one Assam Company Limited (ACL) and one Joshi Technologies International Inc. (JTI). The participating interest (P.I.) of ACL was 75% and that of JTI was 25%. The petitioner acquired the participating interest in the PSC to the extent of 60% i.e 25% of JTI's P.I. and 35% of ACL's P.I. vide amendment agreement 26.07.2004. The petitioner, apart from being a "contractor" under the PSC was also appointed as the "operator". ACL remained the other contractor with 40% P.I.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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