India’s Ministry of Petroleum and Natural Resources is to allow foreign oil and gas companies to bid in the upcoming initial shale gas licensing round.
It said the shale gas round, expected to be launched in December, will be the beginning of a fast-track campaign to find and exploit India’s unconventional resources.
The ministry said that, as an incentive, companies exploring for shale gas, will be exempt from certain custom duties and that it hopes for shale oil tax breaks.