Big boys absent as India offers oil, gas licenses

There is much hope for new oil and gas finds in India, with the latest round of exploration bids likely to ensure that India has one of the most extensive deep-sea exploration programs in the world.

An estimated US$8 billion to $10 billion of investment is expected during the sixth round of the New Exploration Licensing Policy (NELP-VI) program, with as many as 165 bids having been received as of September 15, the closing date, compared with 69

for the previous round. Although US giants have chosen to keep away, the new round is being billed a success.
Asia Times