Types of Contract
Salient Features of POC

Model Revenue sharing contract is envisaged to increase domestic oil and gas production, enhance transparency and reduce administrative discretion.

  1. Unified Licence for both conventional and unconventional Hydrocarbons
  2. Revenue sharing fiscal regime based on LRP & HRP
  3. Graded Royalty rates
  4. Market pricing and full Market Access
  5. No restriction on exploration activity during the contract period
  6. Provision for rapid development to expedite the production & early monetization

Other key features of the Model Contract

  • Unit development
    Well defined mechanism for development of common reservoir between 2 Contractors who are at different stages of E&P lifecycle in their respective blocks
  • Petroleum Exploration License and Mining Lease
    Flexibility given to Contractor to undertake exploration for the duration of the Lease
  • Operatorship/PI Transfer
    Well defined timelines for approval of change in operatorship/ PI transfer
  • Joint usage of infrastructure
    Flexibility to Contractors to make use of existing infrastructure in adjacent blocks

Salient Features of Reconnaissance Contract

Reconnaissance Contract is envisaged to increase the Geo-scientific data base of Zone II and Zone III of Indian Sedimentary Basins.

  1. Areas defined as Zone II and Zone III on NDR website are open for Reconnaissance contract applications also.
  2. Reconnaissance Contracts aims at strengthening the Geo-Scientific Data Base of the Basins.
  3. Contract Period : RC will be awarded for 2 years with an option to extend for 1 additional year.
  4. Contractor can license the data for 12 years from effective date. However, one set of data will be given in NDR and can be used by GoI for promoting/licensing acreages.
  5. Contractor may also opt for migration to POC through bidding process with an incentive. On successful migration from RC to POC, the right over licensing the data shall lapse.
  6. Reconnaissance Contracts will be exclusive in nature. However, Contractor can allow other parties for survey on its discretion.