Oilfield contractors may soon get 35-year consolidated lease

New Delhi: The government is planning to give oilfield contractors a longer consolidated lease for 35 years, which would help cut bureaucratic delays in obtaining multiple leases and aid contractors in planning long-term investments. The oil ministry is seeking to amend the Oilfields Regulation & Development Act, 1948 to permit such long-term leases to winners of exploration licences, as per people familiar with the matter. The current rules