Oilfields Regulation Development News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Our CorrespondentKohima, Sep. 20 (EMN): Leader of Naga People’s Front (NPF) legislature party and co-chairman of United Democratic Alliance (UDA), Kuzholuzo Nienu on Tuesday said it is ‘high time’ for the state government to wake up and take concrete steps to resume oil and gas exploration and production in Nagaland. He stated this on the first day of the 12th session of the 13th Nagaland Legislative Assembly (NLA). Nienu pointed out that it is a time-consuming process as the oil and gas blocks in India are awarded by the Central govt. through the Director General of Hydrocarbons (DGH) a...

Oilfield contractors may soon get 35-year consolidated lease The ministry also wants the proposed policy changes to apply to running contracts, which would mean an easy renewal of contracts Synopsis The current rules permit grant of petroleum exploration licence (PEL) for seven years in on land and shallow water areas and for eight years in deepwater and frontier areas. New Delhi: The government is planning to give oilfield contractors a longer consolidated lease for 35 years, which would help cut bureaucratic delays in obtaining multiple leases and aid contractors in planning long-term inve...