(a) whether the privatisation of ONGC fields was inspired by case studies from Nigeria, Mexico, Iraq and Egypt and if so, the details thereof; and
(b) the steps taken by the Government to extend some fiscal concessions to National Oil Companies as are being offered to private companies to raise production and also to allow them to participate in the auction of oil and gas producing fields ofONGC/Oil India Limited?
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MINISTER IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a) & (b) Government of India reviews its policies pertaining to oil and gas exploration from time to time. This review, inter-alia entails learning from the experiences of other countries. Some of the discovered oil and gas fields of ONGC and OIL could not be monetized for years due to various reasons such as isolated locations, small size, prohibitive development costs, technological constraints etc. Government had earlier allowed private participation in the Pre-NELP discovered field rounds in 1992-1993for early monetization of discoveries made by National Oil Companies to enhance domestic production.
With a view to increase domestic production of oil and gas, in September, 2015 the Discovered Small Field Policy was notified for monetization of 69 discovered small fields of ONGC and OIL. Under the Policy 30 contract areas were awarded for development through International Competitive Bidding (ICB). The Government has decided to extend the Discovered Small Field (DSF) Policy notified in 2015 to more fields including some fields of ONGC also.
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