India awards drilling rights for new oil and gas fields


India has awarded drilling rights for 31 small oil and gas fields as it looks to reduce its costly dependence on energy imports. In its first such auction in six years, contracts for the fields were awarded to 22 companies, the majority of which are new to the oil and gas sector. “The government endeavours to execute these contracts at the earliest so that the awardees can commence production,” the Directorate General of Hydrocarbons said in a statement. India is hungry to secure more of its own supplies as half its gas and at least 80 per cent of its…

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