Government permits faster monetisation of oil and gas discoveries

New Delhi: The government has allowed companies to monetise oil and gas discoveries without undergoing the time-consuming procedure of government approvals for field development plans and other bureaucratic process.

“There are no restrictions on monetization of discovery at an early stage within these timelines (provided under the contracts); rather it would be in public interest that a discovery is monetized early as a step towards energy security of the country,” the Directorate General of Hydrocarbons (DGH) said in guidelines on early monetization of hydrocarbon discoveries.