The government will be signing Open Acreage Licensing Policy (OALP) round-1 contracts for 55 oil and gas exploitation areas.
Tag: PSC
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Reforming India’s Oil & Gas Sector
Avery colourful legend has it that during the construction of the railway line from Dibrugarh to Margherita by Assam Railways & Trading Co (AR&TC) in 1867, a herd of logging elephants returned to the camp with their feet covered in crude oil. Even as this led the AR&TC personnel to look for seepages, the site engineer, WL Lake, reportedly cried out in excitement to his workers, 'Dig boy, dig!' on coming to learn about it.
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Cairn India reports quarterly loss; reaffirms potential in Rajasthan block
Cairn India reported a quarterly loss of Rs.10,948 crore for the March quarter, primarily led by impairment loss on goodwill and non-producing oil and gas assets due to a drop in oil prices.
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Oil & gas block auction policy to be ready by FY16: Pradhan
Government expects to finalise the new policy for auction of oil and gas blocks during the ongoing financial year, Oil Minister Dharmendra Pradhan said.
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Oil India signs contract for two oil blocks in Myanmar
Oil India Ltd, the second largest State explorer, has signed a contract for two offshore oil and gas blocks it had bagged in Myanmar. OIL along with its consortium partners signed a production sharing contract (PSC) with Myanmar Oil and Gas Enterprise (MOGE) for two offshore blocks M4 and YEB at Nay Pyi Taw, the company said in a statement.
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Kelkar panel favours PSC regime
An experts´ panel on petroleum reforms, headed by Vijay C Kelkar, former Union finance and petroleum secretary, has recommended continuing with the existing production
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Exploring New Directions
With a view to analysing the Kelkar Committee Report on domestic fuel production, we critically consider certain recommendations in Part I of the Committee´s Report.
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RIL gets two blocks in Myanmar
The Ministry of Energy (MOE) of the Republic of the Myanmar selected Reliance Industries (RIL) for two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round 2013. Both the blocks are located offshore in the Moattama basin of Myanmar in water depths up to 3,000 ft and together encompass an area of 27,600 sq km.
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Cairn India awaits govt nod for Rs 50 bn investment plan
Cairn India is awaiting government approval for an over-arching integrated block development plan which envisages investment of Rs 5,000 crore on its Rajasthan oil fields between 2013-2016. The company is also awaiting government decision on extending the Production Sharing Contract (PSC) of the R
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Govt reviews pricing system for natural gas
In order to encourage exploration and development activities by players in the oil and gas sector, the government is reviewing the system of pricing natural gas under the production sharing contract (PSC), Economic Survey 2012-13 said. The pricing system would be reviewed in order to clarify the extent to which producers will get the free
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