The Central government has undertaken a number of transformative initiatives to provide conducive business environment for the growth of exploration and production (E&P) sector. It has made concerted efforts to enhance domestic production through introduction of Hydrocarbon Exploration and Licensing Policy (HELP), geoscientific data initiatives and Discovery of Small Fields Policy. HELP, which adopts the revenue sharing contract model, is a giant step towards improving the ease of doing business in the E&P sector. It reduces the regulatory burden of cost auditing and provides full marketing and pricing freedom of gas to the entities. The government has also introduced Improved Oil Recovery-Enhanced Oil Recovery policy to leverage technologies to improve hydrocarbon output in ageing fields. It is focussed to reach the full hydrocarbon potential in the country in years to come.
In a recent conference on Gas in India organised by India Infrastructure Publishing, Ranajit Banerjee, Advisor, (Strategic Planning and Finance), Directorate General of Hydrocarbons made a presentation on the policy initiatives undertaken by the government in Indian exploration and production sector.