Modified policy to revive ageing oilfields expected to be out in 2025

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Modified policy to revive ageing oilfields expected to be out in 2025 - Business Standard

Quick Summary:

Private sector companies have previously complained about the cumbersome administrative processes they must go through to avail of ER/IR incentives.

While the committee completed its task within two months and submitted the draft Modified ER Policy, 2023, with its recommendations, it has not yet been adopted.

The government may notify the modified version of the policy on enhanced recovery (ER) and improved recovery (IR) for oil and gas in 2025, officials said.