30/11/2016 StepsTakentoEnhanceExplorationandProductionofOil&GasintheCountry

PressInformationBureau
GovernmentofIndia
MinistryofPetroleum&NaturalGas
28November201617:32IST
StepsTakentoEnhanceExplorationandProductionofOil&GasintheCountry

TheMinisterofState(I/C)forPetroleum&NaturalGasShriDharmendraPradhaninformedtheLokSabhaina
writtenreplytodaythatduringtheUrjaSangamheldon27thMarch,2015,HonblePrimeMinisterassignedthetargetof
reducing import dependency in energy by 10% by 202122. A committee was constituted for Preparing a roadmap to
reducethedependencyonimportinenergyby10%by202122.TheCommitteehassubmitteditsreportwhichenvisagesa
five pronged strategy (Increasing domestic production, promote bio fuels and renewable, promote energy efficiency and
conservation, improvement in refining processes and demand substitution) to achieve the target. The report has been
acceptedbytheGovernment.
AsperInternationalEnergyAgencys(IEA)WorldEnergyOutlook2015,theprojecteddemandofoilandgasin
Indiawouldbe:
(million tonnes of oil
By2040 equivalent)
Oil Gas

Current 505 143
Policies
Scenario
450Scenario 337 179
New Policies 458 149
Scenario

Governmenthastakenseveralstepstoenhanceexploration&productionofoilandgasinthecountrysuchas:
I. EasingoutrigiditiesintheexistingProductionSharingContracts(PSCs)

II.TransparentandclearpolicyforgrantofextensionunderthePSCregime
III.GrantofMarketingFreedomforgasproducedfromdifficultareas
IV.DiscoveredSmallFieldPolicyandHydrocarbonExplorationandLicensingPolicy(HELP)
V.SettingupofNationalDataRepository
VI.AppraisalofUnappraisedAreasinvarioussedimentarybasinsetc.

Theseinitiativeswouldhelpinincreasingtheproductionofoilandgasinthecountry.
GovernmenthastakenupfocusedmonitoringofvariousfieldsunderPSCandnominationregimesforenhancing
productionofoilandgasinthecountry.

Governmenthastakenseveralstepsforresolvingdisputesandensuringpolicybasedadministration.Thepolicy
frameworkforRelaxations,ExtensionsandclarificationsattheDevelopmentandProductionstageunderPSCregimefor
earlyMonetizationofhydrocarbonDiscoveries,PolicyonTestingRequirements,PolicyforExtensionofPSCshavehelped
inresolutionofseveraldisputesandhavetakentheblocksforward

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YKB/RK

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