Open Acreage Licensing Policy

Ease of doing business: Cabinet delegates powers to oil, finance ministers to award oil blocks

Till now, only the Cabinet headed by Prime Minister had the powers to approve award of an block or area for exploration and production of oil and gas

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.