As the major Indian national oil companies (NOCs) look to main- tain spending levels against the steep decline in crude oil prices, opportunities will remain open to oilfeld services (OFS) providers in the country. Over the next two to three years, these opportunities will concentrate on developing relatively small-scale and previously stranded assets and in improved oil recovery (IOR) and enhanced oil recovery (EOR) projects. Wider opportunities in the sector beyond 2019 will depend on the outcome of future licensing rounds, yielding signifcant new discoveries.
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