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Goods imported in connection with off-shore oil exploration or exploitation - 334/88 - Customs -TariffExtract Goods imported in connection with off-shore oil exploration or exploitation Notification No. 334/88-Cus. Dated 31-12-1988 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the Table below, when imported into India in connection with the purposes of the off-shore oil exploration or exploitation, from so much of that portion of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate of twenty-five per cent ad valorem , and from the whole of the additional duty, if any, leviable thereon under section 3 of the said Customs Tariff Act, subject to the condition that the importer produces, at the time of clearance of the goods, a certificate issued by the Member-Secretary of the Empowered Committee on the Indigenisation of Oil Field Equipment and Services of the Ministry of Petroleum and Natural Gas, Government of India certifying that the said goods are essential for the purposes of the said off-shore oil exploration or exploitation. THE TABLE S. No. Description of goods (1) (2) 1. Seismic Survey Vessel including shore based Radio positioning location system and Magnetic tapes. 2. Drilling rig and equipment including tug, BOP drill pipe. 3. Helicopters. 4. Supply Boats. 5. Equipment for specialised services like cementation, logging, diving and mud casings services. 6. Castings and tubings. 7. Drilling bits. 8. Chemicals for preparation of mud. 9. Process, production and well platforms for oil, gas and water injection in cluding equipment required on these platforms like process equipment, turbines, pumps, generators and compressors. 10 Line pipes for flow lines and trunk pipelines including weight coating and wrapping. 11. Pipe lay barges, cranes, trenchers, derrick barge and the like required in the installation of platforms and laying of pipelines. 12. Single Buoy mooring systems, oil tankers, to be used for oil storage and con nected equipments. 13. Fully equipped vessels for pollution control, fire prevention, repairs and maintenance of production installation. 14. Chemicals like pour point Depressant required for production or transpor tation of oil and gas. 15. Stores, spares, materials and other consumables for running repairs and maintenance of the aforesaid equipment and operations. 2. This notification shall come into force on the 1st day of January, 1989, and shall be in force up to and inclusive of the 30th day of November, 1989.
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