Source: Business Standard, May 21, 2018
Under this, operators of blocks under the New Exploration Licensing Policy (Nelp) and pre-Nelp rounds will be able to access shale oil, shale gas, coal-bed methane (CBM) and gas hydrates from the same blocks where they are extracting conventional oil and gas.
The move is likely to benefit not only state-run exploration and production companies Oil and Natural Gas Corporation (ONGC) and Oil India but also private majors Cairn India (now part of Vedanta) and Reliance Industries (RIL).
A new Hydrocarbon Exploration and Licensing Policy (Help) was cleared by the Union Cabinet in March 2016. It allows for a uniform licence to explore and produce all forms of hydrocarbons. According to multiple sources, the government is working on a Cabinet note in this regard. Read the rest of this entry »