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Initial term for Development & Production Lease of Tight Gas increased from 25 to 30 years
Renewal period increased from 5 to 10 years
40% applicable Windfall Levy on conventional gas waived off for tight gas
Third party sale allowed at mutually agreed price between the Seller and the Buyer
40% premium over the respective zonal price of Petroleum Policy 2009 for Tight Gas

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SALIENT FEATURES OF TIGHT GAS POLICY 2024

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