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India opens deepwater oil, gas bids, offers to fund up to 50% of well costs
The government is rolling out a special licensing round for deepwater and ultra-deepwater oil and gas blocks, offering monthly bidding windows and relaxed fiscal terms as it prepares to shoulder up to 50 per cent of eligible exploratory well costs under its Rs 84,084-crore Samudra Manthan offshore exploration programme. The special round under the Open Acreage Licensing Policy (OALP) is aimed at accelerating exploration in India's offshore frontier basins by lowering entry barriers, sharing the…
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