Union Minister Dharmendra Pradhan has promised a "transparent regulatory regime" and greater ease in doing business with India as he promoted the auctioning of 46 discovered oil and gas fields in a roadshow here. Pradhan is in the US and was speaking at a plenery while promoting the auction of 46 oil and gas fields discovered by ONGC and Oil India Limited. These fields, discovered by Oil and Natural Gas Corporation Ltd (ONGC) and Oil India LTD (OIL), are envisaged to be put on production through expeditious efforts. Promising a "transparent regulatory regime" and greater ease of doing business, the minister in his plenary address said that, "we recognise that the need of the hour is to increase the domestic energy production by unlocking India's hydrocarbon potential." Of these 67 fields, 36 are located in offshore areas and 31 fields are in on land basins.

Source: dna July 15, 2016 09:16 UTC