Latest News on New Exploration Licensing Policy
Showing of 0 - 10 from 17 results
New Exploration Licensing Policy - Total results - 17
Apr 09, 2019
Overhauled oil policy to apply from 4th bid round; move aims at wooing private, foreign investments: DGHUnder OALP, companies are allowed to put in an expression of interest (EoI) for prospecting of oil and gas in any area that is presently not under any production or exploration licence.
Mar 11, 2019
Govt overhauls oil and gas exploration policy; no profit to be charged on output in less explored areasIn a major overhaul of oil and gas exploration permits, the government will not charge any share of profit on hydrocarbons produced from less explored areas as it looks to attract the elusive private and foreign investment to raise domestic output
Aug 15, 2018
Government notifies incentives to state-owned oil firms in pre-NELP blocks; new rule applies to 11 fieldsThe Centre has notified a new policy requiring state-owned ONGC and OIL to pay royalty and cess only to the extent of their equity holding in certain pre-1999 oil and gas fields.
Jun 26, 2018
Govt allows companies to explore for oil, gas beyond block boundariesIn a bid to make it easier for explorers to find and produce more oil and gas, the Government has allowed companies to go beyond their allocated block boundaries if a discovery were to extend outside their contracted area
Apr 20, 2018
Oil India reacts cautiously as seismic survey hits roadblock in Manipur after rebel group abducts sub-contractorsAn 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.
Mar 10, 2016
Cabinet approves new pricing formula for gas finds in difficult areasSeeking 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.
Nov 25, 2015
Free gas pricing policy won't help 15-17 Tcf gas discoveries but future findsThe 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.
Sep 02, 2015
Cabinet clears auctioning of ONGC, Oil India fields to private firmsThe 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.
Jun 02, 2015
Reliance Industries to produce 23 mmscmd from gas finds in KG-D6: oil ministryThe 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.
Apr 14, 2015
Centre mulls auction of ONGC, Oil India oil fields to private firmsThe 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.