(1)

Production from areas outside New Exploration Licensing Policy (NELP) regime

A. Nomination Blocks:

(i) from 1-4-1993 to 31-3-1996: @ Rs. 539.20 per metric tonne.

(ii) from 1-4-1996 to 31-3-1998: @ 603.95 per metric tonne.

(i) from 1-4-1998 to 31-3-2002: Monthly average rate per metric tonne as per statement appended;

(ii) with effect from 1-4-2002:

(a) Onland areas: @ 20% of well head price.

(b) Shallow water offshore areas (upto 400 mtr. water depth): @ 10% of well head price.

(c) Deep water offshore areas (> 400 mtr. water depth): @ 5% of well head price during first 7 years after commercial production and normal rates as applicable to shallow water areas (upto 400 mtr. water depth) during other periods.

(d) Heavier Crude Oils of 25 API and less : 25% lesser than the applicable rates as above.

(e) Reduced rates of royalty, as may be notified by the Government form time to time, will be levied on production from fields under Enhanced Oil Recovery (EOR)/Impropved Oil Recovery (IOR).

(2)

Production from areas under NELP regime:

At the rates determined in accordance with the provisions under respective Production Sharing Contracts (PSCs).