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KOLKATA (miningweekly.com) – India over the weekend unveiled 46 oil and gas blocks that would be put up for auction for development by domestic and foreign investors, but the government is yet to finalise a policy framework, casting doubts over the response from foreign majors.

The federal government has not yet firmed up whether successful bidders would have to enter into production-sharing contracts with the government, as was the case with previously allocated blocks, or if they would be required to sign revenue-sharing agreements, as was preferred by the Oil and Gas Ministry.

Read more at: http://www.miningweekly.com/article/india-unveils-oil-gas-block-for-auction-but-lacks-policy-framework-2014-01-13