India is putting its aggressive program to sharply reduce oil and gas imports over the next 5 years to the test with an upcoming bidding round aimed at winning back international oil companies with the skills and money to make major discoveries.
Last year’s discovered small fields auction by state oil firm ONGC attracted strong bidding from smaller Indian players, many new to the business. But “this is much more ambitious,” said Atanu Chakraborty, director general of India’s Directorate General of Hydrocarbons (DGH).
The country is trying to reach the goal set by India’s Prime Minister Narendra Modi to reduce oil and gas imports by 10% by 2022....
India Asks Big Oil Companies "Where Do You Want to Drill?"
Stephen Rassenfoss, JPT Emerging Technology Senior Editor
24 March 2017