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Incentives for EOR projects: Who gains?
Sep 13: Behind every policy decision in the oil & gas sector, there is always a lot of backroom maneuvering.
8The cabinet has taken a decision to provide fiscal incentives to Enhanced Oil Recovery projects and unconventional oil and gas by partial waiving of applicable of cess and royalty on incrementally produced oil and gas.
8The new policy framework envisages a 5% incremental recovery of crude and 3% for gas
8ONGC's rising EOR costs, up to a point where future investments were not providing an adequate rate of return, is one of the reasons why the government expedited a decision on the subject.
8Besides ONGC, Vedanta stands to gain from the policy, given that its Barmer fields have a lot of EOR activity
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