‘Within the RSC model, as the contractor keeps earning, the Government gets progressively higher revenue’

The depression in International crude oil prices has deeply affected the global Offshore Drilling market on the whole. “While the present conditions are unfavourable for drilling contractors, the market conditions will not remain the same forever. This definitely brings an opportunity to prepare for the future when the market conditions turn in favour of E & P activities ,” says Raghav Jindal, Managing Director, Jindal Drilling & Industries Limited (JDIL). He elucidates the current state and growth drivers for Indian drilling market in the backdrop of falling global oil price and the government’s decision of switching policy regime from PSC to RSC, announcement of bidding marginal fields and realign LNG strategy in importing huge LNG, etc. He further details on JDIL’s future plan and international expansion plans, in an email interaction with Rakesh Roy.