NEW DELHI: After clearing five "no-go" areas for oil and gas exploration, the Cabinet Committee on Investment (CCI) on Monday eased stringent conditions imposed by defence ministry on another 25 blocks, freeing USD 4.61 billion investments.
"The CCI at its meeting held today cleared 25 exploration and production blocks for continued exploration of oil and gas, out of 31 blocks where work had been stopped on account of security restrictions imposed by ministry of defence," an official statement said here.
While the statement did not give break-up of the blocks cleared, the 31 blocks where restrictive conditions were imposed included 13 of Reliance Industries-BP combine, 15 of state-owned Oil and Natural Gas Corp ( ONGC) or its lead consortium, two blocks of Santos of Australia and one block of Cairn India-led consortium.
"The CCI at its meeting held today cleared 25 exploration and production blocks for continued exploration of oil and gas, out of 31 blocks where work had been stopped on account of security restrictions imposed by ministry of defence," an official statement said here.
While the statement did not give break-up of the blocks cleared, the 31 blocks where restrictive conditions were imposed included 13 of Reliance Industries-BP combine, 15 of state-owned Oil and Natural Gas Corp ( ONGC) or its lead consortium, two blocks of Santos of Australia and one block of Cairn India-led consortium.
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