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The existing offshore platforms in Mumbai have been operational for more than three decades.
Reliance on November 11, 2016, slapped an arbitration notice disputing the claim.
ONGC had borrowed Rs 24,881 crores on a short-term loan to fund buying the government's 51.11 per cent stake in HPCL.
Till now ONGC and OIL had to pay 100 per cent royalty and cess tax on 11 pre-New Exploration Licensing Policy (NELP) fields that were given to private firms prior to 1999.
Oil and Natural Gas Corp (ONGC) had in January this year bought the government's entire 51.11 per cent stake in HPCL for Rs 36,915 crore.
India will appeal against a ruling by an international tribunal in favour of Reliance Industries Ltd and its international partners in a dispute over gas migration.
Analysts on average had expected ONGC to post a standalone profit of 66.43 billion rupees, according to Thomson Reuters.
A three-member international arbitration tribunal by a majority vote held that Reliance could contractually produce and sell any gas that might have migrated from adjoining fields.
Reliance Industries and Shell initiated proceedings under English Arbitration Act 1996 to challenge the arbitration award before the English Commercial Court in November 2016.
Oil and Natural Gas Corp wants its interest to be clubbed with the 51 per cent government stake that is already on offer for sale, officials say.
ONGC Board had on March 28, 2016, approved investing USD 5.07 billion in bringing to production a cluster of discoveries in the Bay of Bengal and the first gas was expected by December 2019.
The move by the board is largely in line with the Union Budget announcement made in February to create a public sector oil major.
While MRPL operates a 15 million tonnes a year refinery at Mangalore in Karnataka, HPCL has two refineries at Mumbai and Vizag.
The officials had awarded the contract to Deep Industries by overlooking the guidelines of the public sector undertaking and the fact that the company was ineligible due to technical deficiencies.
The sources said ONGC wants the one government nominee director on HPCL board to be the same person as on its board.