New Delhi, March 20 -- The new Oil Field Amendment Bill 2024 has relaxed regulations for making small oil fields lucrative for investors. Under the provisions of the bill, the Discovered Small Fields (DSF) now gets several investor-friendly liberalised terms which are aimed at making operations more efficient and profitable.

For discovered small oil fields, the bill allows for 100 per cent foreign participation, greater exploration flexibility, and improved financial terms with no cess in line with India's Hydrocarbon Exploration and Licensing Policy (HELP).

The new policy is designed to attract both domestic and international investment for DSF, ensuring increased production and efficiency in India's oil and gas sector.

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