All content in this website is sourced legitimately

Page No: 1
Cleaning up E&P regulations-IV: Other measures
Aug 24: Among the other rationalization measures demanded from the government by E&P operators are:
8Extension of the time limit for written notification about the occurrence of a Force Majeure event
8More autonomy in the allocation of contiguous reserves in areas which are not part of contract areas of E&P operators under certain caveats.
8A better delineation of what constitutes a demonstrable delay.  Land acquisition and Force Majeure conditions must be considered as excusable delays. And powers to approve such delays be vested with the DGH and not with the petroleum ministry
8Laborious procedures now in place for recovery of cost petroleum when there are differences with established benchmarks be done away with.
8Tax benefits under section 42 of the Income Tax Act be made available to all small and medium sized discovered fields during the extended period of contract
8A clarification be given on exploration operations to be allowed under all the PSCs after the Exploration Phases throughout the license period prospectively and that old cases will not be reopened.
Click on Reports for more


Back  |  Top