New Delhi: The government’s decision to free up gas pricing and incentivise incremental output is likely to fire up investments in gas fields and raise production, said company executives and analysts.
The Cabinet on Tuesday granted marketing and pricing freedom to all new gas discoveries whose field development plan (FDP) had yet to be approved. It also introduced fiscal incentive to operational fields for producing more than the current level.
“This is positive for us as we will be able to fast-track at least three projects that were ready to develop but commercially not viable,” said ONGC chairman Shashi Shanker. These three discoveries have a producible reserve
