Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Policy for the Grant of Extension to the Production Sharing Contracts signed by Government awarding small medium sized and discovered fields to private Joint Ventures

News and Press Release - Dated:- 10-3-2016 - The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved a policy for grant of extension to the Production Sharing Contracts for small and medium sized discovered fields. This extension policy deals with 28 fields. Of these 27 fields (small and medium sized fields) were awarded as a result of two rounds of bidding during 1991 to 1993, and one (PY-3) was separately put to bidding as discovered field. For .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

small and medium sized fields, than the share as calculated using the normal PSC provisions in any year during the extended period and hence will vary from year to year based on Investment Multiple (IM) /Post Tax Rate of Return (PTRR). During the extended period of Contract, the royalty and cess shall be payable at prevailing rates (of nomination regime). Royalty and cess will be payable by all the contractors in proportion to their participating interest. This will lead to additional government .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

esent term of PSC. The reserves which are likely to get monetized during the extended period are of the order of 15.7 MMT of oil and 20.6 MMT of Oil Equivalent of gas. The reserves associated with this field would lead to monetization of reserves worth USD 8.25 Billion (around 53000 Crore). The monetization of these reserves would require an additional investment of USD 3 to 4 Billion. Employment Generation Potential: The extension of these contracts is expected to bring extra investments in the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version