Point of View: ONGC’s Raha: Exploring India’s untested basins needs incentives

The Indian government should offer incentives to companies willing to explore the country’s many untested basins, says Subir Raha, chairman of state-owned Oil & Natural Gas Corp. (ONGC). But a proposal to replace the New Exploration Licensing Policy (NELP) regime with open acreage nomination “is not a solution to attract investors to low-prospectivity blocks.”India has 26 sedimentary basins but produces hydrocarbons from only six, Raha pointed out in a recent interview with Oil & Gas Journal. Traces of hydrocarbons have been encountered in three or four other basins.ONGC, for which Raha has worked for 36 years, made the initial discoveries in five of the producin...

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