Oil Ministry plans to re-launch NELP X with simpler revenue-sharing model

摘要

The Oil Ministry is reportedly planning to introduce simpler revenue-sharing in the next auction of oil and gas blocks, so it does not need to micro-manage oilfield affairs and companies have no incentive to inflate costs. The ministry will shortly seek Cabinet approval after inviting public comments. It plans to launch the 10th round of the New Exploration Licensing Policy (NELP-X) by December, according to unnamed officials quoted in the news report.