Petroleum operations under contract rate between GOI, ONGC, OIL and Foreign Oil Company

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....0-6-1994 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in the Table below when imported into India in connection with petroleum operations to be undertaken under a contract entered into by the Government of....

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.... no foreign exchange remittance is made for the import of the said goods. TABLE Sl. No. Description of goods (1) (2) 1. Seismic Survey Vessels including Shore based Radio positioning location system and Magnetic tapes. 2. Drilling rig and equipment including tug, BOP, drill pipe. 3. Helicopters. 4. Supply boats. 5. Equipment for specialised services lik....