02/07/2017 Petroleum Minister says launch of NDR and OALP is historic occasion for Indias E&P Sector 22 Cabinet

Cabinet decisions taken in last 3 years in E&P

Press Information Bureau

Government of India
Ministry of Petroleum & Natural Gas
28-June-2017 18:08 IST
Petroleum Minister says launch of NDR and OALP is historic occasion for Indias E&P Sector 22 Cabinet decisions
taken in last 3 years in E&P

FirstbiddingroundunderDSFhasbeenasuccesswith44fieldsawarded

Ontheregulationside,marketingandpricingfreedomhasbeengiventooperatorsforblocksawardedunderCBM,
DSF,difficultareasandHELPpolicies

E&PsectorshouldhavemajorinvestmentinInternetofThings,saysPetroleumMinister

Greaterchoicesforinvestmentsinthesectorarebeingoffered


Minister of State (I/C) for Petroleum and Natural gas, Shri Dharmendra Pradhan, launched the National Data Repository
(NDR) and Open Acreage Licensing Policy (OALP) under the progressive, market driven Hydrocarbon Exploration and
LicensingPolicy(HELP)ofGovernmentofIndiainNewDelhitoday.
Speakingattheevent,ShriDharmendraPradhansaidthatthelaunchisahistoricoccasioninthehistoryofIndias
Hydrocarbon Industry. Hon'ble Prime Minister gave the mandate for a modern, progressive, investor friendly world class
policyforthenextbiddinground.Hesaidthatwiththeexperienceofseverallitigationsandnotveryencouragingproduction
outputfromNELProunds,theMinistrydecidednottogoforincrementalpolicychangebuttohaveacompletelynewpolicy.
HydrocarbonExplorationandLicencingPolicy(HELP)isanoutcomeofthis.
ShriPradhansaidthattheNewIndiaisagiletheNewIndiaisenterprising.Itiskeentomeetinvestorsandeagerto
adoptnewideas.Ourpoliciesareindustryfriendlyandtransparentwehavecreatedanenablingenvironmentforindustrial
investmentsthathasgrownatanunparalleledspeedinthelastfewyears.
CitingthatFDIinIndiawasatthehighestlevelin201516atatimewhentheglobalFDIhadfallen,ShriPradhan
emphasizedonGovernmentseffortstoimproveEaseofDoingBusiness.HesaidthattherecentintroductionoftheGoodsand
ServicesTax,ortheGST,fromthe1stofJulywillbeapathbreakingsteptowardsgoodtimeinIndianbusinessandeconomic
development.HELP,also,willmakeanequallysignificantimpact,headded.
ExplorationandproductionsectorhasremainedamainfocusareafortheGovernment,moresoafterHonblePMset
atargettoreduceimportdependenceby10%by2022.ShriPradhansaidthatoutof42Cabinetdecisionstakenduringthe
last3yearsinO&Gsector,22areonE&Psector.Theyrangefromgaspricereformto9pointsPSCreformtostreamlining
CBM sector to extension of PreNELP blocks to holding DSF rounds etc. These policy decisions have powered the
Governmenttoundertakeabout10significantreformmeasureswhichwillbenefitindustryparticipantsintheE&Psector.
ThesereformsrangefromNationalSeismicProgramtoDiscoveredSmallFieldPolicytoReforminitiativesforenhancing
domesticproductionsuchasincentiveforproductionfromdifficultareastoHELPandsoon,headded.
TheMinistersaidthatasmuchas52%ofIndiassedimentarybasinsarestillunappraisedandthelastseismicdata
acquisitionoftheunappraisedsedimentarybasinswasundertakenbytheGovernmentnearly25yearsago.ThustheNational
SeismicProgramwasstartedlastyear.Atthesametime,theGovernmenthasalsotakenupareassessmentofhydrocarbon
dataofexistingsedimentarybasinsforfreshvolumeestimation.TheGovernmentalsocameoutwithpolicyonDiscovered
SmallFields,andthefirstbiddingroundunderDSFhasbeenaresoundingsuccesswith44fieldsawarded.
TheMinistersaidthattheGovernmentisalsoworkingproactivelyonanumberofotherfrontstomaketheupstream
sectorvibrant.Ontheregulationside,marketingandpricingfreedomhasbeengiventooperatorsforblocksawardedunder
CBM, DSF, difficult areas and HELP policies. The Government is also working on creating necessary supporting
infrastructureworkontheNationalGasGrid,includingPradhanMantriUrjaGanga,hasbeenfasttracked.
ShriPradhansaidthattheGovernmentisalsocomingupwithnewpoliciesonEORIORProductionEnhancement
ContractShaleOil&GasPolicyforNELPandPreNELPblocks,NextsetofPSCReforms,2ndBiddingRoundunderDSF
policy,andsoon.
TheMinisteraddedthattheGovernmentremainscommittedformakingsustainedandsignificanteffortstoliberalize
thesectorbysimplifyingprocesses,increasingmarketaccessandbringingdevelopmentsinthetechnologydomainwiththe
aimtoenhancetheefficiencyofouroilandgasindustry.Hesaidthatgreaterchoicesforinvestmentsinthesectorarebeing
offered.
NationalDataRepositoryhascomeforthasanintegrateddatarepositoryofE&PdataoftheIndiansedimentary
basins,inlinewiththeDigitalIndiainitiativeofHonblePrimeMinister.WeexpectOpenAcreageLicensingtoaccelerate
exploration activities in the country since investors can express their interest in an area which they feel has prospective
withoutwaitingforformalbidding.

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