100% FDI is allowed in the exploration of Crude Oil and Natural Gas through the automatic route

The New Exploration Licensing Policy (NELP) is in place (since 1998) to facilitate Private sector participation in Oil and Gas exploration

Over 108 oil blocks have been awarded since 1999 via 5 rounds of global competitive bidding under the NELP programme

A Coal Bed Methane (CBM) Policy has been formulated which provides for attractive fiscal and contract terms for the exploration of CBM blocks

Petroleum and Natural Gas Regulatory Board Bill to be enacted shortly - will result in the setting up of an Independent Regulator for Oil & Gas

Source: Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas, BP Statistical Review of World Energy,other articles,news