India’s Upstream Revival – HELP or Hurdle?

Following several years of stagnation, India’s government is attempting to revive its upstream exploration sector through the launch of a new Hydrocarbon Exploration Licensing Policy (HELP), comprising a set of measures including: a single licence for conventional and unconventional hydrocarbons, open acreage licensing, a revenue sharing model, and commercial and marketing (pricing) freedom. The policy appears to be aimed at reducing administrative costs, preventing the recurrence of past disputes and arbitration, and recognizing India’s former, limited capacity to regulate and administer Production Sharing Contracts (PSCs). ….