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
Tag: PSC
Post
Post
CAG insists on its right to vet contractors’ documents
Comptroller and Auditor General (CAG) has asked oil ministry to Ć¢ā¬Ėspecifically incorporateĆ¢ā¬ā¢ its right to audit contractor(s) relevant documents of contractors in the future production sharing contracts (PSC).In a letter to Petroleum Secretary, the CAGĆ¢ā¬ā¢s Director General (Commercial) II, P Sesh Kumar said the government auditor must have access to the books, accounts, records, documents and financial statements of co
Post
ONGC to develop 50 gas fields
Oil and Natural Gas Corporation (ONGC) plans to invest about Rs 26,000 crore in putting 50 onshore and offshore fields on production, 49 through inhouse efforts and one through service contract.
- 1
- 2