|Dr. R. K. Malhotra, DG, PetroFed proposing vote of thanks.|
|Hon’ble Minister delivering the concluding remarks.|
|Meeting in progress.|
|Hon’ble Minister presiding over the session along with other Govt. officials. (L-R) Shri U.P. Singh, CMD, Oil India; Shri K. D. Tripathy, Secreatary MoP&NG; Shri Dharmendra Pradhan, Hon’nle Minister of State(I/C), MoP&NG; Shri A. P. Sawhney, Additional Secretary, MoP&NG; Shri Atanu Chabraborty, Director General, Directorate General of Hydrocarbons.|
PetroFed organized a Meeting with Operators/Non Operators in PSC Regime under the aegis of MoP&NG on May 27, 2016 at New Delhi. The Hon’ble Minister has taken a number of path breaking initiatives to boost the growth of E&P sector. The latest was the launch of discovered small field bid round 2016 held on May 25, 2016 at New Delhi.
Under previous NELP regime, a number of issues arose while operationalizing the PSC contracts. In the meeting organized by PetroFed, the E&P operators/non-operators in India got an opportunity to interact with Hon’ble Minister, team from MoP&NG and DGH in a single platform on May 27, 2016.
The operators/ non operators mainly brought the issues of : Fiscal stability, Timely resolution of issues; Service tax on Royalty, Cash call, sharing of data etc. The Hon’ble Minister, Ministry official & DG, DGH assured to look into the matter to resolve the outstanding issues in a timely manner.