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Oil Marketing Companies (OMCs) have issued advertisements for setting up 55652 petrol pumps in across 30 States in November this year. More advertisements for the same can be expected according to the Ministry of Petroleum and Natural Gas.
In2018 end report, the Oil Ministry said that advertisements for the five States where assembly elections recently concluded will be released after the model code of conduct is lifted.
“For the first time, computerized Draw of Lots/Bids opening will be held under the aegis of an independent agency to bring in more transparency. All Retail outlets will be constructed with latest technology including automation,” the statement said.
The Oil Ministry also said that the Government has emphasised on the expansion of City Gas Distribution (CGD) network coverage . “Till 2017, only 19 per cent of the country’s population spreading over 11 per cent of the area was covered for development of CGDs…With the conclusion of 10th round of bids, it will expand the coverage of CGD networks to about 70 per cent of the population spreading over 50 per cent of the area.”
“The growth of CGD coverage has potential to attract total investment of more than ₹ 1,20,000 crore in gas value chain,” the statement added.
Highlighting the initiatives taken to promote exploration and production, the Oil Ministry said that the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Policy (OALP) have been implemented. “Under OALP Bid Round I, 55 Blocks having area of 59,282 sq. Km have been awarded on October 1, 2018. OALP Bid Round II with 14 blocks is in the offering,” the Oil Ministry said.
A policy framework to promote and incentivise Enhanced Recovery Methods for Oil and Gas has also been approved.
In February , the Cabinet had approved the Discovered Small Field Policy Bid Round-II, an extension of the Discovered Small Field Policy notified during October 2015. “Under DSF-II, 59 discovered small fields/unmonetised discoveries estimated to have 194.65 Million Metric Ton (MMT) Oil and Oil equivalent gas in place are offered for bidding. The Second Bidding Round under DSF Policy offering 59 discoveries clubbed into 25 new Contract Areas was launched on August 9, 2018,” the Oil Ministry said.
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