Government of India, through NELP invites all companies both Indian & foreign for investment in E&P sector for securing energy needs of the country. With introduction of New Exploration Licensing Policy, the upstream hydrocarbon industry in the country has undergone a momentous change. Today, many companies view India as an attractive business destination for oil & gas. We are also able to attract best technology from across the globe in search of hydrocarbons. In this regard GOI has issued two notifications which allow duty free import of goods for E&P operators.
These two notifications are as follows:
Notification No. 21/2002 customs dated 01.03.2002 amended vide notification No. 26/2003 – customs dated:-01.03.2003 (oil & natural gas exploration)
Notification No. 26/2003 customs dated:- 01.03.2003 ( coal bed methane exploration)
The EC department in DGH receives applications from various operators for duty free import of goods. This department complete all formalities & issue certificates within stipulated time frame. Besides, the department also issues NOC’s for transfer of goods within the country.
The certificates are issued under the notification 214 AND 215, 216, 217 218-
214- Goods required for PEL/ML blocks granted by Government of India or state Government to ONGC/OIL on notification basis.
215- Parts and raw materials required for manufacture of goods for offshore operation.
216- Goods required in connection with petroleum operations under taken under specified contracts (Pre-NELP)
217- Goods required for blocks under NELP.
218- Goods required in connection with (CBM operations).