00:15the continued exploration for commercial accumulations of hydrocarbons has often led
00:22to the belief that the future potential of exploration lies in frontier basins as compared
00:28to mature basins however as some of you will acknowledge easily advances in technology
00:37have demonstrated that there are opportunities to unlock hydrocarbons in both mature and frontier
00:44basins
00:51so
00:58so
01:03so
01:04so
01:26This measure introduced in the recent finance bill will facilitate the development and production of natural gas
01:33that has been deemed uneconomic to produce or stranded.
01:39The legislation provides relief with respect to the royalty payable on natural gas won and saved
01:46and on expenditure incurred on a marginal gas field, to be defined by the Minister.
01:52The royalty rate is reduced to 8%, and expenditure incurred on a marginal gas field qualifies for an uplift of
02:0230%.
02:07Time is money.
02:09This is a sector where you can actually count the money when you lose the time.
02:13So it is very critical that we work in a way that we recoup what could be estimated at over
02:19120 million United States dollars per year
02:23by inefficiency and by slow processes.
02:27Thank you for listening to the government.
02:30I have a lot of fun here.
02:33That's the best way the best way to find the environment.
02:35I have to tell you more about a lot of things
02:38that I was thinking about yesterday,
02:40but I know there are a lot of examples
02:42that are used as a public service.
02:47They have friends who have a lot of their own
02:48in terms of you toilet you or have to go
02:51and take the time,
02:52or get a chance that I'm going to spend
02:53or have a lot of time with my job.
02:58I'm not really looking for them.
03:12it is something that we like to take this opportunity to condemn
03:16we have reported the matter to the police and at first sight it appears to be an act of sabotage
03:22and it is very troubling that we speak about increasing oil production
03:26and when you look at the reality there are individuals and organizations for whatever
03:33that's the purpose that will be engaged in sabotaging our pipeline infrastructure
03:56so
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