To cut imports, Oil India aims to raise output by over 7%: Utpal Bora

We are importing around 82 per cent of our requirement, so lower oil prices are more beneficial to the country, says Bora

State-run Oil India is expected to see a huge increase in oil and gas production by 2022. Chairman and Managing Director Utpal Bora speaks about the company's planned role in bringing down the country's crude oil imports and the future of India's exploration sector in an interview with Shine Jacob. Edited excerpts:

The Open Acreage Licensing Policy (OALP) rounds are considered to be the next big thing. What is your take on it and what are your investment plans for the areas held by Oil India?

OALP will allow us to go for more exploration. The last round of NELP