The Indian government has plans to finance a deepwater oil exploration campaign to be led by ONGC as it seeks to boost local oil production amid strong demand and rising international prices. The Economic Times cited unnamed sources familiar with the plans that the state-owned energy major would begin drilling in the Andaman basin after the monsoon was over and was currently in talks with Exxon and Shell to take them on as partners.
The plan involves drilling three to four wells in the Andaman Sea, with the drilling funded by the Indian government.…India Sets Sights On Deepwater Basin In Oil Exploration Push
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