Post Tagged with: "Wildcatters"

India May be the Next Frontier for Wildcatters

India May be the Next Frontier for Wildcatters

India offers simpler permits, tax sops and freedom from pricing restrictions to operators who are willing to invest in developing its smaller fields India is expected to be the next China in terms of demand growth for energy, and now the country is hoping to attract wildcatters and risk-takers willing to develop its smaller oil and gas fields. India’s $2 trillion economy imports roughly 77% of its crude oil and natural gas, making it heavily dependent on other producers, something Indian Prime Minister Narendra Modi would like to change. The South Asian country is hoping to find operators to develop 67 already-discovered small fields, which hold about 625 million barrels of oil and gas, Bloomberg reports. India is expected to surpass Japan as the world’s third-largest oil user this year, according to information from the IEA. The country will be the fastest-growing crude consumer in the world through 2040, adding[Read More…]