Govt plans Rs 80,000 crore package to attract deepwater oil explorers

•The Indian government plans an Rs 80,000 crore package to attract deepwater oil explorers with incentives.

•The package will fund up to half the cost of drilling exploratory wells to reduce exploration risks.

•India is auctioning 18 deepwater and ultra-deepwater blocks with a bid deadline of September 17.

•The government aims to attract global companies with deepwater expertise and advanced technologies.