Page 45 - Policy Economic Report - April 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Multi-Client Seismic Models (MCM) as Accelerators:

• Multi-client seismic models were identified as a potential mechanism to improve cost efficiency
and broaden participation, particularly in frontier basins.

• Global experience suggests that MCM enables faster data availability and supports increased
licensing participation.

• At the same time, a phased and calibrated approach is required for India, considering basin
maturity and existing data ownership structures.

Government as a Key Enabler:

• The role of the Government in enabling the data ecosystem was emphasized, including policy
support, continued investment in data acquisition, and strengthening of data access frameworks
(NDR). Policy clarity and predictability were highlighted as critical to unlocking industry
participation.

Procurement and Execution Frameworks:

• Given the scale of anticipated activity, participants highlighted the need for robust procurement
frameworks, including engagement with multiple service providers and adoption of quality-cum-
cost-based approaches to ensure high-quality data acquisition and timely execution.

Based on the discussions, it was proposed to

• Finalize a prioritized seismic data acquisition roadmap, focusing on frontier and deepwater basins
and aligned with upcoming bid rounds

• Initiate a structured programme for reprocessing and integration of existing datasets to unlock
near-term exploration value

• Define commercial frameworks for data acquisition, including selective application of multi-client
and hybrid models

• Design procurement and execution frameworks aligned to scale, incorporating quality-based
evaluation and enabling participation from multiple service providers

The Data Driven Exploration conference reaffirmed that seismic data is the foundational lever for
accelerating exploration participation and investment, particularly in frontier and deepwater basins.
There was strong industry alignment on the need to improve data quality, accessibility, and commercial
viability through a targeted and time-bound approach.

The conference points towards the need to translate consensus into execution, with immediate focus on
operationalizing key action areas, including finalization of a prioritized data acquisition roadmap,
development of appropriate commercial models, and design of procurement frameworks aligned to scale
and quality requirements.

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