New Exploration Licensing Policy

Oil India reacts cautiously as seismic survey hits roadblock in Manipur after rebel group abducts sub-contractors

An official of the Manipur government claimed that efforts were on to break the deadlock for restarting the survey in Jiribam but did not specify any timeframe for the resumption of the operation.

Cabinet approves new pricing formula for gas finds in difficult areas

Seeking to revive interest in oil and gas exploration by simplifying rules, the cabinet approved a new fiscal and contractual regime for award of hydrocarbon acreages.

Free gas pricing policy won't help 15-17 Tcf gas discoveries but future finds

The ministry proposed a Uniform Licensing Policy that will allow exploitation of all forms of hydrocarbons - conventional oil and gas as well as unconventional shale oil and gas and coal-bed methane (CBM) under one permit.

Cabinet clears auctioning of ONGC, Oil India fields to private firms

The weight for revenue share will be 80 percent while 20 percent would be for work programme that may include drilling of exploratory and development wells and seismic studies.

Reliance Industries to produce 23 mmscmd from gas finds in KG-D6: oil ministry

The most number of discoveries, 51 are by RIL. These are made up 12 oil discoveries and 39 gas finds. Its KG-DWN-98/3 or KG-D6 block alone has 19 oil and gas finds.

Centre mulls auction of ONGC, Oil India oil fields to private firms

The ministry is reasoning the auctioning of the marginal fields to they being uneconomic for a large firm with huge overheads to develop or bring to production. Smaller firms with a fraction of operating cost can develop them at a much faster and economic rate.

ONGC plans to invest Rs 40,000 cr in KG oil, gas finds

ONGC plans to drill 14 oil wells and 10 water injectors in Cluster-2A and is expected to produce 31.5 million tons of oil in 15 years.

Moily wants reassessment of India's oil and gas potential

A full-scale revision is overdue in view of the vast amount of data collected since the previous exercise.

India to auction 56 oil and gas blocks on revamped terms

A total of 254 blocks have been awarded in the nine rounds of NELP since 1999.

10th round of oil and gas block auction in January, says Veerappa Moily

After more than a two-year hiatus, India will launch auction of oil and gas blocks in January as it looks to attract foreign investors to boost domestic production.