June 2013

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HP Viewpoint: Brief overview of India’s upstream

Over the last few decades, the Indian upstream sector has evolved through three different regulatory regimes—nomination, pre-new exploration licensing policy (NELP)/limited bid rounds and, finall..

Nair, S.V., Cairn India Ltd.

Over the last few decades, the Indian upstream sector has evolved through three different regulatory regimes—nomination, pre-new exploration licensing policy (NELP)/limited bid rounds and, finally, the NELP regime. Various blocks under operation have been awarded under these regulatory mechanisms.1 Production sharing contracts (PSC) have been the dominant mode of hydrocarbon administration in India.2 Historically, the national oil companies (NOCs) mainly contributed to the development of the hydrocarbon sector. However, since the implementation of the NELP in 1999, private players have made significant contributions to the Indian hydrocarbon sector. Since the operationalization of

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