The Indian government was ready to tweak the model revenue sharing contract with oil and gas exploration (E&P) companies, before putting up more blocks for auction under the newly unveiled Hydrocarbon Exploration Licensing Policy (HELP) next year.
According to an official in Petroleum and Natural Gas Ministry, since it would be the first time that the government would be moving from production sharing contracts to revenue sharing contracts, it was willing to make improvements based on feedback from stakeholders.
