Home / Business and Economy / BP CEO: India Offers Prime Exploration Terms
BP CEO: India Offers Prime Exploration Terms
10 Oct
Summary
- India launched Samudra Manthan policy to boost energy security.
- BP's CEO confirms India's attractive investment conditions.
- Policy aims to accelerate deep-water oil exploration with funding.
India's government has implemented the Samudra Manthan policy, a strategic move to bolster energy security by intensifying oil exploration efforts.
This policy, announced in July, is designed to expedite deep-water oil exploration and is backed by an outlay of approximately ₹84,000 crore. It aims to secure India's energy needs amidst global supply chain disruptions.
BP CEO Meg O'Neill highlighted that India presents attractive fiscal and legal terms, along with government support for foreign investment. She confirmed BP is actively assessing current exploration rounds within India.
O'Neill also noted that while BP is moderating activities in the Persian Gulf due to risk, the company remains adaptable to global market volatility. BP intends to remain independent and is focused on growth and streamlining its portfolio.
