India Plots Exploration Licensing Round

Friday, January 4, 2019
(Image: India's Directorate General of Hydrocarbons)

India will start auctioning for 14 oil and gas blocks in its second exploration licensing round on Monday, giving freedom to the companies to carve out areas they want to drill.

The blocks together hold undiscovered reserves of about 14,995 million tonnes of oil equivalent, according to a tweet from Directorate General of Hydrocarbon, India's upstream regulator.

India, the world's third biggest oil importer, wants to unlock its vast hydrocarbon resources to cut dependence on foreign oil.

India imports nearly three quarters of its energy requirement but Prime Minister Narendra Modi has set a target of cutting the country's fuel import dependency to two-thirds by 2022 and to half by 2030.

India's previous licensing rounds have been dominated by local firms.


(Reporting by Nidhi Verma; Editing by Rashmi Aich)

Categories: Energy Activity Asia Exploration

Related Stories

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Seatrium Engages Axess Group to Clear FPSOs for Brazil Deployment

Sapura Energy Rebrands to Vantris Energy

Sapura Energy Rebrands to Vantris Energy

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

CNOOC Brings New Offshore Gas Field On Stream

China Starts Production at Major Oil Field in Bohai Sea

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

CNOOC Finds Oil and Gas in South China Sea

CNOOC Finds Oil and Gas in South China Sea

EnQuest Acquires Harbour Energy’s Vietnamese Assets

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Current News

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Cheniere, JERA Ink Long-Term LNG Sale and Purchase Agreement

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com