In order to revamp the regulatory system of the country’s upstream oil companies, the government plans to commission a study of 10 upstream regulatory agencies from various countries in different continents and suggest steps to design the most suitable for India.
Of these 10 countries, at least four to five will be those where a production-sharing contract regime is in existence.The Directorate General of Hydrocarbons (DGH) has invited bids from international agencies for this study purpose.The exercise would be carried out within 60 days.
The study will examine the role and function of such agencies, delegation by controlling agency, and their relationship with the administrative authority or ministry.It will submit a detailed report on merits and demerits of various models of different organisations and how they compare with India.
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