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Tag Archives: production sharing contracts

Indian Supreme Court Reaffirms Severability Principle of Arbitration Agreements

In Reliance Industries Ltd. & Anr v. Union of India, the Supreme Court of India has again declined jurisdiction to consider an application to set aside an UNCITRAL award in an arbitration seated outside India, finding that the intention of the parties was that Indian arbitration law would not apply to their dispute. In 1994, Reliance Industries Limited entered into two production sharing contracts (PSCs) with the Union of India for the exploration and production of petroleum. The PSCs provided that if there was a change to India’s laws or