Business News

Govt plans to start recovery 7 years after deepwater explorers begin production

FinSiddhi

The government will support deepwater exploration through 2030-31 with significant funding. About forty-three thousand crore rupees will fund sixty deepwater well drillings. Investment recovery will occur after seven years or half development cost recoupment. Industry members suggested alternative recovery timelines and methods. This scheme aims to reduce exploration risks and boost oil output.
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