The Cabinet Committee on Economic Affairs Gave Nod for Shale Gas Exploration and Exploitation

The Cabinet Committee on Economic Affairs on 24 September 2013 approved the proposal on exploration and exploitation of shale gas and oil.

Created On: Sep 25, 2013 10:28 IST

The Cabinet Committee on Economic Affairs on 24 September 2013 approved the proposal of the Ministry of Petroleum and Natural Gas on the policy on exploration and exploitation of shale gas and oil by National Oil Companies (NOCs) on acreages under the nomination regime.

The policy will facilitate NOCs to carry out exploration and exploitation of unconventional hydro-carbon resources particularly shale gas and oil in their already awarded on land Petroleum Exploration License and Petroleum Mining Lease (PEL/PML) acreages under the nomination regime. The policy also contains the terms as well as conditions for guiding these activities.

NOCs shall apply for grant of shale gas and oil rights in their interested PEL or PML acreages and are required to undertake a mandatory minimum work programme. NOCs are permitted three assessment phases of a maximum period of three years each. Royalty, Cess and Taxes would be payable at par with conventional oil and gas being produced from the respective areas.

It is important to note that the production requirements and profile for shale oil and gas is different from conventional gas and oil. Therefore, there was a need of the policy in order to achieve early development of these resources and to address issues arising out of E&P activities in shale gas and oil.

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

5 + 6 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    • Current Affairs PDF May 2021
    • Current Affairs PDF April 2021
    • Current Affairs PDF March 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    • Current Affairs Quiz PDF May 2021
    • Current Affairs Quiz PDF April 2021
    • Current Affairs Quiz PDF March 2021
    View all