PRMS Standards in vogue
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Transparency in Oil and Gas Reporting: India's PRMS Implementation Ensures Effective Energy Management

India is the third-largest consumer of oil and gas in the world, with an ever-increasing demand for energy. The country's oil and gas reserves are critical to meeting its energy needs, and effective management of these resources is essential for the country's economic development. The implementation of PRMS by DGH is a significant step towards achieving this goal.

PRMS is an internationally recognized standard for the classification and reporting of oil and gas reserves and resources. Its implementation by DGH from 1st April 2021 will ensure that all blocks and fields across all nomination and contract regimes in India are covered in the annual reporting of oil and gas reserves and resources.

The adoption of PRMS will bring transparency, consistency, and accuracy to the reporting of oil and gas reserves and resources. This will facilitate effective management of hydrocarbon resources in India. It will also enable the country to make informed decisions about its energy policies and strategies.

The PRMS system will benefit all stakeholders in the Indian oil and gas industry, including investors, operators, and the government. Investors will have a better understanding of the reserves and resources available in different fields and blocks, thereby improving their investment decisions. Operators will be able to optimize their operations based on the accurate data provided by the system. The government will be able to monitor and manage the country's hydrocarbon resources effectively.

 
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