Govt plans Rs 80,000 crore package to attract deepwater oil explorers

India plans an Rs 80,000-crore incentive package for deepwater oil exploration. The government will fund up to half the cost of drilling exploratory wells. This initiative aims to reduce exploration risks and attract global companies. India is also auctioning eighteen deepwater and ultra-deepwater blocks. The bid deadline is September seventeenth for these blocks.

Raccontata daeconomictimes.indiatimes.com