DGH opens up entire unexplored area for hydrocarbon firms to search for fossil fuels

New Delhi: Upstream oil and gas regulator the Directorate General of Hydrocarbons (DGH) on Wednesday unveiled a national data repository of the entire unexplored area in the country for businesses to search for fossil fuels.

The move is part of implementing the open acreage licensing policy approved in March, 2016. It allows hydrocarbon companies to express interest in an area of their choice which the government will offer in a global competitive bidding. This ensures industry involvement from the early stage of choosing the areas to be auctioned, which may increase investor interest.

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