Top
Begin typing your search above and press return to search.

Centre withhelds consent for FDI in 2 NE blocks

By Spl Correspondent
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print
  • Facebook
  • Twitter
  • Whatsapp
  • Telegram
  • Linkedin
  • Print

NEW DELHI, July 23 � The Union Government has withheld consent to allow FDI in two blocks in the North-east including one in Assam on technical grounds.

Announcing the decision of the Cabinet Committee on Economic Affairs (CCEA), Petroleum and Natural Gas Minister (MoP&NG) S Jaipal Reddy said the consent for the two blocks was withheld for technical reasons. �The two blocks are non-producing blocks and their clearance would be considered on merit after RIL submits its response to the oil ministry�s query,� he added.

The two blocks are in Assam (on-land block AS-ONN-2000/1) and in the North East Basin (NEC-DWN-2002/1). Both have completed first phase of exploration and have to secure approvals from the Directorate General of Hydrocarbons for the second phase of exploration.

He said the Ministry of Petroleum and Natural Gas may subsequently take a suitable administrative decision in respect of the issues pending in respect of two blocks AS-ONN-2000/1 and NEC-DWN-2002/1. Based on such decisions, MoP&NG may in future grant or refuse consent to transfer of 30 per cent Participating Interest in these two blocks, he added.

The Cabinet Committee on Economic Affairs on Friday approved the proposal to grant consent to the transfer of 30 per cent of Participating Interest of Reliance India Limited to BP Exploration (Alpha) Limited in 21 blocks, by excluding blocks AS-ONN-2000/1 and NEC-DWN-2002/1, subject to submission of all guarantees and documents by the assignee.

More in Entertainment
Next Story
Similar Posts
Centre withhelds consent for FDI in 2 NE blocks

NEW DELHI, July 23 � The Union Government has withheld consent to allow FDI in two blocks in the North-east including one in Assam on technical grounds.

Announcing the decision of the Cabinet Committee on Economic Affairs (CCEA), Petroleum and Natural Gas Minister (MoP&NG) S Jaipal Reddy said the consent for the two blocks was withheld for technical reasons. �The two blocks are non-producing blocks and their clearance would be considered on merit after RIL submits its response to the oil ministry�s query,� he added.

The two blocks are in Assam (on-land block AS-ONN-2000/1) and in the North East Basin (NEC-DWN-2002/1). Both have completed first phase of exploration and have to secure approvals from the Directorate General of Hydrocarbons for the second phase of exploration.

He said the Ministry of Petroleum and Natural Gas may subsequently take a suitable administrative decision in respect of the issues pending in respect of two blocks AS-ONN-2000/1 and NEC-DWN-2002/1. Based on such decisions, MoP&NG may in future grant or refuse consent to transfer of 30 per cent Participating Interest in these two blocks, he added.

The Cabinet Committee on Economic Affairs on Friday approved the proposal to grant consent to the transfer of 30 per cent of Participating Interest of Reliance India Limited to BP Exploration (Alpha) Limited in 21 blocks, by excluding blocks AS-ONN-2000/1 and NEC-DWN-2002/1, subject to submission of all guarantees and documents by the assignee.

More in Entertainment
Similar Posts