Hydrocarbon project in Neduvasal - Govt signs contract

Posted on:31 Mar 2017 11:32:50
Hydrocarbon project in Neduvasal - Govt signs contract
31 March 2017 Current Affairs: The Government of India signed a contract for the Discovered Small Fields (DSF) Bid 2016 with GEM Laboratories for extracting Hydrocarbons at Neduvasal, a village in Pudukkottai district, in Tamil Nadu.

The contract was one of the many signed for 31 areas under the DSF Bid Round 2016.

The estimated total revenue would be approximately Rs 46,400 crore, of which royalty collection and Government's revenue share is expected to be around Rs 5,000 crore and Rs 9,300 crore, respectively.

It is also estimated that employment for about 37,500 persons would be generated through these fields.

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