MoPNG notifies policy framework for streamlining PSCs

The Ministry of Petroleum and Natural Gas notified the policy framework for streamlining production sharing contracts for New Exploration and Licensing Policy (NELP) and pre-NELP blocks on August 14, 2018. As per the framework, all contractors in pre-NELP exploration blocks will have to share the liability of the statutory levies including royalty, cess and any other charges in proportion to their respective participating interest in the block.