The Exploration And Production Arrangement For Hydrocarbons

2324 Words Apr 1st, 2015 10 Pages
Survey of the Current PSCs and the Proposed New Demonstrate
The exploration and production arrangement for hydrocarbons is a foundation of our vitality security, since India has a substantial and developing interest for vitality and significant hydrocarbon holds that stay to be explored, appraised and developed. Production Sharing Contracts (PSCs) went into between the state and oil and gas organizations with the end goal of exploration and production of hydrocarbons constitute the important method for attaining to our general strategy target of more prominent independence in this part. The paper has aimed at arriving at a mechanism that would lead to greater synergy between the Government and oil companies, thereby enhancing domestic production, simplifying monitoring procedures, and incentivizing investments in the exploration and production of hydrocarbons, including from the private sector.
Pre NELP Scenario of India which includes historical background of Exploration and Production, Petroleum Sector Reforms 1990; entry of foreign companies. Finally, there is the more general consideration concerning complex challenges of exploration. Impact of NELP rounds have been described and compared. Calculation of Government share of profit petroleum has been demonstrated. It also encompasses OALP (Open Acreage Licensing Policy) as the government is planning to shift from the tried and tested NELP mechanism of sharing exploration blocks to an “open acreage system” in the near…
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