(a) Whether certain gas reserves found after exploration by Public Sector Companies have been allocated to the private companies and if so, the details thereof and the rules under which the said allocation has been made;
(b) the benefits likely to accrue to the Government from the said allotment; and
(c) the corrective steps taken/being taken by the Government in this regard?
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MINISTER OF STATE (INDEPENDENT CHARGE)
IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN):
(a) In 1991, Government of India decided to invite foreign and domestic private sector companies to participate in the development of discovered oil and gas fields , and in some cases, fields partially developed by the National Oil Companies (NOCs)- Oil and Natural gas Corporation Limited (ONGC) and Oil India Limited (OIL).
Two bidding rounds of medium and small sized discovered oil and gas fields were held in 1992 and 1993.
? First round of bidding for small and medium-sized discovered/fields( 1992)
? Second round of bidding for small-sized discovered/ fields (1993)
NOCs were allowed to hold 40% participating interest in case of medium size fields and there was no participation of NOC in small size fields.
Out of 28 fields under operation, 18 fields having gas reserves were awarded to private and joint venture companies. Gas production had commenced in 17 Gas fields and at present 14 gas fields are on production, one gas field is in abandonment stage and other two gas fields are in closed state.
(b) Government of India has realized Royalty of Rs. 8042 Crores, Cess of Rs. 5738 Crores and Profit Petroleum of Rs. 46656.86 Crores through monetization of above fields up to 2014-15 since commencement of production from above fields
(c) Does not arise in view of (b) above.
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