India tempts Malaysian explorers

THE Indian government is holding a roadshow in Malaysia today and tomorrow to promote awareness about oil and gas exploration opportunities in India.

The Indian High Commission said in a statement that the road show, in Kuala Lumpur, was aimed at boosting investment in the sub-continent’s oil and gas sector through its new exploration licensing policy (NELP).

The roadshow would involve a presentation of upstream investment opportunities and India’s fiscal and contracts regimes, as well as discussion about the geology of the 20 onshore and offshore blocks on offer for the fifth round of the NELP, which closes on May 31.

A total of 90 production sharing contracts have been signed with foreign and domestic companies in the earlier four NELP rounds. Indian Petroleum and Natural Gas Ministry secretary-general S.C. Tripathi is leading the Kuala Lumpur delegation.