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26 October 2018
 |
| Oil and gas sector (The
Total Investment & Insurance Solutions) |
India on Friday
presented a wide range of investment opportunities in the upstream oil and gas
sector, citing strong interests in the ongoing USD 2.86 billion investment
underway to double gas production and drill more than 120 exploration wells
over the next four-five years.
A Directorate General
of Hydrocarbons (DGH) delegation, led by Director General Dr V P Joy,
highlighted in its presentation new improved oil recovery and enhanced oil
recovery concepts, introduced earlier this month, which offers flexible terms
for exploiting existing discoveries.
“Investments in capital
goods for hydrocarbon production is recoverable from earnings,” said Dr Joy
while listing out incentives under the new upstream sector policies.
The USD 2 billion
investment will nearly double the natural gas production to 60 billon cubic
metres (bcm) a year by 2022 from the current 33 bcm a year.
The presentation was
for bid round II under the Discovered Small Field Policy (DSF) and Open Acreage
Licensing Policy (OLAP). The Total Investment & Insurance
Solutions
Fourteen blocks under
the OLAP and 25 contract areas covering 59 discovered oil and gas fields under
DSF Bid Round II are being offered. The Total Investment & Insurance
Solutions
The DSF policy is
aligned to Hydrocarbon Exploration and Licensing Policy (HELP), which adopts
the revenue sharing model as a step towards improving the ease of doing
business in Indian exploration and production (E&P) sector, the DGH said in
a press statement here.
It comes with
attractive fiscal terms like reduced royalty rates and no cess, single license
for all hydrocarbons, pricing and marketing freedom, freedom to exploration
throughout contract period, no signature bonus and provision for sharing of
common facilities, it said.
Over 175 participants
from E&P companies, service providers, investors and entrepreneur attended
the Singapore roadshow. The Total Investment & Insurance
Solutions
The Singapore roadshow
was second after the October 4 Russia event and will continue in London and Abu
Dhabi.The Total Investment & Insurance Solutions
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