Decades of incremental policy reforms by India to attract investments by Big Oil haven’t yielded the intended outcome. National hydrocarbon production has stagnated over recent decades, and import dependence for oil has remained the most obvious macroeconomic vulnerability for the country.

Thankfully, this has of late led to a subtle policy shift. As many of once-prolific oil fields have matured, and are depleting fast, state-run oil companies as well as private players are giving a renewed emphasis on assimilating cutting-edge technology for production enhancement as well as exploration. This is being done both by augmenting indigenous R&D and through tech partnerships with foreign oil companies.

Policy bottlenecks stalling technology and investment

Experts say advanced oil recov

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