Indian regulatory body allows immediate monetisation of new oil and gas field discoveries
NEW DELHI: India’s upstream oil and gas sector regulator Directorate General of Hydrocarbons (DGH) released a set of guidelines on Friday making it easier for companies to begin commercialising discoveries without having to wait for time-consuming paperwork.
The regulator’s new guidelines make possible the early monetisation of hydrocarbon discoveries, with companies being allowed to begin commercial production straight away. According to the statement, the timelines provided in contracts with the government for oil and gas explorers are the maximum time allowed for development and monetisation.
