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Why India can be an attractive E&P destination-I: Companies may still flock in
Jun 30: The French government's announcement last week that it will stop giving out E&P exploration licenses on account of environmental concerns and availability of alternate fuels has stunned the oil & gas industry.
8France has ignited what is likely to be a global revolution to stop new oil and gas licensing on the premise that the world cannot afford to dig for oil anymore without doing serious ecological and environmental damage. Even more importantly, there is a growing belief that renewable energy can be a viable substitute for oil and gas.
8As more countries turn away from the oil and gas industry, India is sprucing up its licensing rules to attract more investments in new acreages. More policy fixes are planned beyond what has already been done to induce companies to invest in its undiscovered sedimentary basins.
8Even though India is not a hydro carbon rich country and investors can find more prospective acreages elsewhere, this website puts forward the reasons why India will continue to find investors for its E&P blocks
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