Huge energy market provides unique opportunity to invest
The Minister of State (I/C) for Petroleum & Natural Gas Sh. Dharmendra Pradhan has invited the foreign investors to participate in the Discovered Small Fields Bidding Round – 2016. Speaking at the road show in London recently, he said that the huge energy market in India provides unique opportunity to invest in Indian oil and gas sector. Sh. Pradhan said these 67 Small Fields were discovered long back but could not be monetised mainly due to restrictions in government policies. Now, progressive policies have been ushered in and private and foreign investments are being proactively facilitated. Small fields provide an investment opportunity in already discovered fields with no signature bonus, no requirement of prior technical experience and no mandatory work programme. The new policy is based on revenue sharing contract model with the aim of simplifying the operating regime and making it more transparent.
Giving a perspective of the paradigm shift in India, in general, and oil & gas sector in particular ever since formation of the new government, Sh. Pradhan said India has now become a bright spot of hope and opportunity in
the world. While, there has been the surge of investments from around the world, there has been a sharp rise in India’s ranking on ease of doing business. India has become pool of investment opportunity in downstream and upstream sectors.