India to open sedimentary basins for exploration

By Staff reporter 10 March 2017

India will open all 26 of its sedimentary basins for hydrocarbon exploration in a bid to expand indigenous oil and gas production, Oil and Gas Minister Dharmendhra Prahan has said, according to Power.

The measure is part of a strategy to double India’s oil production from the current 80 mt to 150 mt by 2020.

The basins will be open to both domestic and foreign companies and offered under a new Hydrocarbon Exploration and Licensing Policy, which simplifies the process of awarding licences and provides...

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