Minister for Petroleum and Natural Gas M Veerappa Moily is confident of getting all regulatory approvals by February 15 for the tenth edition of oil and gas auction rounds.
Speaking to reporters here on Friday, the Minister said, “For the NELP X – Open Acreage Licensing Policy and revenue sharing model – we expect the Cabinet Committee on Economic Affairs’ approvals by February 15.”
Out of the 86 blocks shortlisted for auction in NELP X, 46 have received the requisite clearances.
On issues concerning the Reliance Industries-operated Krishna Godavari Basin D6 block, Moily said his Ministry would seek CCEA nod to allow RIL and its foreign partners, BP and Niko Resources, to conduct a drill stem test (a procedure to establish hydrocarbon discovery in acreage), as the stipulated time to conduct such a test is over. “The CCEA note would be circulated by January 31. The explorer has agreed for it,” Moily added.
The explorer and upstream regulator Directorate General of Hydrocarbons’ (DGH) views differ over three discoveries — D 29, D30 and D31 — in the KG basin. According to the regulator, RIL should relinquish these fields as it failed to conduct drill stem test.
LPG CAP Moily said the next meeting of the Union Cabinet would decide on increasing the cap on subsidised domestic cooking gas to 12 refills annually.
Increasing the subsidy to 12 refills would burden the Government with an additional subsidy of Rs 4,000 crore taking total subsidy bill for LPG to ₹50,000 crore. According to the Government, 97 per cent of population would be covered with 12 subsidised refills per year