(a) the investment made by the domestic and foreign companies in exploration and production of natural gas, refineries and LNG re-gasification in the country during the current year, company-wise; and
(b) the extent to which the schemes/programmes implemented by the Government to attract domestic and foreign investment in the said sectors have been successful in achieving the desired results, Scheme/Programme-wise?
MINISTER OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a): Oil and Gas companies – domestic and foreign, undertake investment in various streams of oil and gas sector. Company-wise details of the investment made by the Oil and Gas Public Sector Undertakings (PSUs) under Ministry of Petroleum and Natural Gas, are annexed. Cumulative investments made over the years by domestic and foreign companies in exploration and production activities under PSC regime uptill 2016-17 is USD 24523 million.
(b): Government from time to time has been taking several policy reforms to attract domestic and foreign investments in the oil and gas sector. The policies include, inter-alia, opening of markets to private sector for retail outlets, abolition of administered pricing mechanism, pre-NELP and NELP rounds. Discovered Small Fields Policy, Hydrocarbon Exploration Licensing Policy (HELP), and Open Acreage Licensing Policy (OALP), marketing and pricing freedom for the gas to be produced from deep/ultra deep water/ HPHT areas, marketing and pricing freedom for gas produced from CBM fields etc.
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