It is conventional wisdom that if existing customers are happy, they repeat their custom, increase their business and provide a beacon to allure new customers. When the government seeks new bidders for residual unexplored acreage in India, the most vigorous participants are likely to be the existing PI (participating interest) holders who are enthusiastic and the new companies reassured and emboldened by them.
The government has introduced welcome changes in the policies for new investments in exploration and production of domestic oil and gas. These make the contract regime more compatible for the challenging factors below the ground. The current operators, however, work primarily on NELP, pre-NELP and nominated acreage.
Sadly, the legacy issues impacting these regimes still exist. Most producers are mired in these legacy issues. This impacts their future investment plans. Read More
Latest posts by Financial Express (see all)
- More Vande Bharat Express trains soon! Indian Railways readies new tender guidelines for semi-high speed train - August 16, 2019
- First-of-its-kind step! Seismic sensors, thermal cameras to check Indian Railways’ train-elephant collisions - August 14, 2019
- Howrah-Anand Vihar bi-weekly Express gets swanky! Passengers can enjoy better train rides with new LHB rake - August 14, 2019