The extensions give companies additional time to assess offshore acreage, where exploration typically requires greater upfront capital, sophisticated technology and longer development timelines
The Cabinet recently approved an Rs 84,000 crore scheme to support deepwater exploration through 2030-31
The scheme, which will come into effect from 1 September, was approved on Tuesday, according to the Ministry of Petroleum and Natural Gas
The project is also expected to complement the recently commissioned Dergaon-Dimapur Pipeline, which has connected Nagaland to the North East Gas Grid and the National Gas Grid
