India cuts oil gas royalty rates to spur deepwater output and boost domestic production momentum

Deep and ultra deep fields get years of zero royalty

India has reduced royalty rates for crude oil and natural gas production, aiming to accelerate domestic exploration and output. The biggest cuts apply to deepwater and ultra-deepwater fields, where the new framework can offer zero royalty for an initial period. The policy is designed to make difficult reserves more economically viable and attract investment into domestic energy supply.