56 new oil and coal blocks will be offered under NELP X India will showcase 56 new oil and gas blocks to external investors and world leaders at theInternationalreach and"International"Oil and conference, petrotech 2014, to be held here from thinking about receiving 12.These blocks are often put on offer during the x round of the new exploration licensing policy(Nelp). Dealing with reporters here on monday, petroleum secretary vivek rae said the ministry would seek to profile 56 blocks at the management meeting.Within the other hand, the notice for inviting bids for auction of these oil and coal blocks would be issued sometime next month. Petrotech is a biennial platform for national and intercontinental experts in the oil and gas industry to exchange views and share knowledge, expertise and opinions. Mister.Rae said the nelp round x would require bidders to quote the amount of oil or gas output they were willing to offer to the federal government from the first day of production. The terms were simillar to those recommended by the panel, headed by pm economic advisory council chairman c.Rangarajan, for awarding future gas and oil blocks.The company offering the highest share of oil or gas made out of the field would get the block, he purchased. Actually, oil companies can recover costs of exploration and production before sharing profit with the federal government. The comptroller and auditor average(Cag)Had criticised this system on the grounds that it encouraged companies to increase capital expenditure and delay the us government share of profit petroleum. Are proposing to move to the revenue sharing model from in these days production sharing scheme.You will get no profit petroleum, no are priced at recovery, no property investment funds multiple, he explained.The shift from manufacturing sharing contract(Psc)Plan, where operators are first allowed to get better costs, to a revenue sharing model will be dependant by the cabinet. Will be approaching the cabinet shortly for approval of manufacturing linked payment regime for nelp x, he was quoted saying. Manufacturing linked payment regime is considered more transparent, requiring less input in routine exploration and development activities.But bear in mind, the new regime is being opposed by some managers, including reliance markets, as they claim that riskier deep water exploration would be best suited if the us govenment were to guarantee that all sunk costs will be first recovered from any oil or gas produced. Ultimate call on the issue will be taken by the cupboard, he was quoted air jordans:http://www.skillya.net/ saying. Though a shift to the new regime may not result in additional revenue for the costa rica government, it will make sure that if companies earn more, the us government gets progressively higher revenue.It will also safeguard the federal government interests in case of a windfall arising from a price surge or a surprise discovery.This will create greater visibility, and foster a hassle free detailed environment. Keywords and phrases:Gas ministry, pay ministry, oil assistant vivek rae, rangarajan screen, oil and coal blocks auction, jordans shoes 2014 petrotech 2014, nelp x bunch Production sharing contracts have cultivated a tricky part of oil exploration.The government should release a stable and competitive regime to maintain transparency and clarity.Energy exploration should be taken up in a mission mode so as to reduce import dependence and extremely become self reliant.Foul breath, the contracts should address environmental concerns also to include durability component. Placed on:January 7, 2014 to 11:27 IST The federal government should ensure very strict conditions on compensation to damages arising out of accidents, fuel spills and market place polution. The united states has much to be grateful to the cag, that sc, the media who examined the astronomical plunders(Including a tenacious lady writer at the hindu), And everyone who campaigned with the India Against file crime movement led by Shri Hazare.