Page 2 - Oil And Gas Exploration

State Bank of India seeks bids for Videocon's overseas oil and gas assets

SBI said it had appointed consultant Deloitte to find buyers for Videocon's exploration assets in Brazil and Indonesia

Govt mulls spinning off GAIL's gas pipeline business into a separate unit

The plan to carve the pipelines business into a fully-owned unit will bring greater transparency between the two businesses and may allow govt to sell shares at a later date

Govt clears reform to enhance domestic oil and gas exploration

Private sector to get bigger areas that belong to Oil India & ONGC

Oil Ministry to launch second round of small field auction in 2017-18

The ministry of petroleum and natural gas is set to come upwith second round of discovered small and marginal fields auction in 2017-18."We have decided to come up with a round two of discovered smalland marginal fields (DSF) in 2017-18," said petroleum minister DharmendraPradhan on the sidelines of a Federation of Indian Petroleum Industry (FIPI)summit in Delhi today. This comes at a time when India had a soft launch of theopen acreage licensing policy for oil and gas exploration, allowing bidders tocarve out areas where they want to drill as the energy- hungry country looks atgreater foreign investment to boost output. Pradhan also added that thegovernment is set to come up with a policy on Enhanced Oil Recovery (EoR) soon As an initial steptowards shifting to the new regime, a national data policy will be announcedwithin a month. This will be followed by opening up of a national datarepository (NDR) within six months that will have seismic data. Under thepolicy, companies ...

Policy basics

The difference between the hydrocarbon exploration and licensing policy and the new exploration and licensing policyThe government on Thursday decided to restructure the licensing regime for oil and gas exploration. Apart from the following differences between HELP and NELP, the new policy will also offer open acreage. Unlike NELP, where blocks were carved out and put for auction, the open acreage policy allows oil companies to select an area (or acreage) based on geological data and apply to the government for a licence. Such an area is subsequently offered for open bidding with the initial proposal as the benchmark for bids.