Reach us: 7304553123 / mktg@projectstoday.com
Help
1. Boolean Searches :

i. AND - Shows results where both terms on either side of the 'AND' operator are present. 'AND' must be in upper case. For example search term - delhi AND metro result - It will return records in which 'delhi' as well as 'metro' both are present.

ii. OR - Shows results where either term (or both terms) is present. 'OR' must be in upper case. For example search term - delhi OR metro result - It will return records in which either 'delhi' or 'metro' or both are present

2. Proximity Searches

A proximity search looks for terms that are within a specific distance from one another. For example, search term - 'delhi metro'~10 result - It will search for records where 'delhi' and 'metro' are found within 10 words of each other

3. Phrase searches

You can search phrases using double quotes. for e.g. 'delhi metro' result - It will return records where 'delhi metro' phrase is found.

Centre allows faster monetisation of oil and gas discoveries

Monday, 29 Jun 2020
Share this on :
The Central government has allowed companies to monetise oil and gas discoveries without undergoing the time-consuming procedure of government approvals for field development plans and other bureaucratic process.

There are no restrictions on monetisation of discovery at an early stage within these timelines (provided under the contracts); rather it will be in public interest that a discovery is monetised early as a step towards energy security of the country.

The contracts give licensees up to eight years to explore. Following a discovery, licensees undertake appraisal, development and production sequentially.

The new guidelines will help cut this sequence, save time and bring in early revenues for licensees as well as the government, according to an industry executive. A company will be able to start production and sale from a discovery even during the exploration phase.

The contractor may develop and monetise such early stage discovery/discoveries before completion of appraisal, declaration of commerciality (DoC) and submission of development plan (DP) /field development plan (FDP), etc in blocks under exploration period.

The contractor will have to submit to DGH its plan to develop that specific discovery, along with estimated cost and production profile. It will also have to seek petroleum mining lease (PML).

The output from such discoveries will be treated as commercial production and the contractor will be expected to pay all levies as well as the share of profit petroleum or revenue as per the contract.

New Password
Confirm Password