India opens deepwater oil and gas bidding round with 50% support
In short
India has opened a special bidding round for deepwater and ultra-deepwater oil and gas blocks under its ₹84,084 crore Samudra Manthan scheme. The government will offer monthly bidding windows and pay up to 50% of eligible exploratory drilling costs.
It is meant to bring in investors, speed up offshore drilling and reduce India’s need to import oil and gas.
What the reporting says
India has launched a special licensing round for deepwater and ultra-deepwater oil and gas blocks under its ₹84,084 crore Samudra Manthan offshore exploration scheme. The government will offer monthly bidding windows and fund up to 50% of eligible exploratory drilling costs. The move is meant to attract investors, speed offshore exploration, unlock hydrocarbon reserves and cut dependence on imported oil and gas.
Why it matters
India has started a special licensing round for deepwater and ultra-deepwater oil and gas blocks under the ₹84,084 crore Samudra Manthan offshore exploration scheme. The government will open monthly bidding windows and fund up to 50% of eligible exploratory drilling costs. The policy is aimed at attracting investment, accelerating offshore exploration and reducing reliance on imported energy.