Minister of Petroleum and Natural Gas
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Government of India signed 310 production sharing contracts involving 29 discovered fields (One PSC signed for Panna & Mukta Fields), 28 exploration blocks under pre-NELP Exploration Blocks and 254 blocks under NELP regime with National Oil Companies and Private (both Indian and Foreign)/ Joint Venture companies as licensee /lessee for blocks. Also 30 Revenue Sharing Contracts (RSCs) have been signed under DSF (Discovered Small Field)-2016 involving 30 Contract Areas. Under HELP (Hydrocarbon Exploration and Licencing Policy), in Open Accreage Licencing Policy (OLAP), Bid Round I, 55 RSCs have been signed on 1st October, 2018. At present out of 310 PSCs & 85 RSCs signed so far under various bidding rounds (Discovered Field, PreNELP, NELP,HELP and DSF), 106 PSCs and 85 RSCs are operational.
Petroleum Exploration Licenses (PEL) for domestic exploration & production of crude oil and natural gas have been granted under the different regimes over a period of time:
Under PSC Regime as on 1st April, 2018, an investment of about US$ 41 billion on exploration and production was made. Out of this, investment of US$6.3 billion on discovered fields, US$ 8.2 billion on Pre-NELP exploration Blocks and US$ 26.5 billion on NELP Blocks were made for exploration and production activities.