Press briefing of Cabinet Decision taken on 2019-10-01

Pricing/Re-Pricing of Petroleum data available in the Petroleum Resources Development Secretariat

- The Petroleum Resources Development Secretariat has to price the newly obtained petroleum data in the M2 Block of Mannar Basin and re-price other old data available in the Mannar, Cauvery and Lanka Basins to carry out future licensing rounds. Accordingly, the proposal made by the Minister of Highways & Road Development and Petroleum Resources Development for pricing and re-pricing the data available in the Petroleum Resources Development Secretariat as per the recommendations of the Cabinet Appointed Negotiating Committee, was approved by the Cabinet.