India Plans to Introduce New Upstream Licensing Regime in 2011

摘要

India plans a gradual phase-out of its existing oil and gas licensing regime in favor of a new open acreage policy that is likely to make its debut in 2011, according to upstream regulators at the Directorate General of Hydrocarbons (DGH). The change appears designed to attract more interest from international firms.Right now, Asia's third largest energy consumer auctions specific blocks under its New Exploration Licensing Policy (Nelp) system - introduced in 1999 - with the blocks open for a set period. Under the open acreage system, companies can delineate the areas in which they want to drill and bid for them at any point.