Anil Agarwal’s Vedanta Ltd. proposes to go ahead with a planned investment of $2.5 billion in its Barmer oil asset to enhance production.

Cairn Oil & Gas - a vertical of Vedanta Ltd. - has given this assurance despite the company having difference with the government on the terms of contract for getting an extension as the operator of the Barmer asset.

The company’s existing contract expires in 2020 and it is seeking an extension for 10 years.

But, it wants it under the existing fiscal terms, while the Centre wants a higher share of profit in petroleum - almost 10 per cent higher - from the crude oil produced. The difference reached Courts, where the Delhi High Court struck down the Centre’s demand and directed the government to extend the contract at the terms sought by the contractor.

This order has been appealed by the Centre before a division bench of the Delhi

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