Business Standard

Sunday, December 22, 2024 | 06:05 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Centre eases oil exploration norms, allows access outside contract areas

The government also empowered the DGH by allowing it to approve the cases of excess cost recovery up to 20%

crude oil
Premium

Shine Jacob New Delhi
In a move that may ease the oil exploration regime in India, the government has allowed producers in the country to go beyond their assigned areas in case the same reservoir continues outside the contracted areas. This would help an operator undertake seismic studies, understand the data, and develop a discovery more efficiently. 
 
Overlapping of reservoir is a contentious issue between Reliance Industries (RIL) and Oil and Natural Gas Corporation (ONGC) in the Krishna Godavari basin. The June 25 decision of the Ministry of Petroleum and Natural Gas (MoPNG) easing the permission norms for extended exploration will not affect

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in