Oil ministry listens to foreign explorers

Vol 4, PW 12 (19 Jul 00) News in Brief

Indian oil ministry officials are conducting a series of one-to-one meetings with foreign explorers to get feedback on the state of India's upstream sector.

On the agenda: reaction to the model Production Sharing Contract used in the last licensing round and constructive criticism on the role (past, present and future) ofthe Directorate General of Hydrocarbons. "There is a genuine move by the government to listen to industry," one foreign explorer tells Petrowatch, "We are still struggling with a lot of basic things like the 'Assignment of Interest' and bank guarantees.

These should be routine matters but they are taking up a lot of time." Meetings will be held until end-July.