Auctioning of oil & gas exploration blocks to start on Nov 5
The government will launch the much-delayed seventh round of auction for oil and gas exploration blocks under NELP on November 5 by offering 57 areas for bidding.
By PTI |
NEW DELHI: The government will launch the much-delayed seventh round of auction for oil and gas exploration blocks under the New Exploration Licensing Policy (NELP) on November 5 by offering 57 areas for bidding.
"This will be the largest offering of exploration blocks. In NELP-VI, India had offered 52 blocks with a gross area of 3,52,000 square km, which itself was many times bigger than earlier rounds," a government official said.
Of these 57 blocks, 19 are in deepsea, 9 in shallow water and 29 on land.
NELP-VII had been postponed several times. It was originally due in March-April, but the controversy over pricing of gas from blocks won under NELP rounds and shortage of drilling rigs forced the government to defer it.
The official said the identified blocks for NELP-VII are located in Rajasthan, Cambay, Himalayan Foreland, Punjab, Ganga, Kutch, Saurasthra, Vindhyan, Mumbai Offshore, Kerala Konkan, Purnea, Bengal, Mahanadi, Krishna Godavari, South Rewa, Palar, Assam-Arakan, Deccan Syneclise, Cuddapah and Andaman basins.
According to the tentative schedule, the roadshow will move to Singapore, Malaysia, and Perth and Adelaide in Australia in the third week of November. The government will then resume the roadshow in the second week of January, visiting London, Calgary and Houston.
"This will be the largest offering of exploration blocks. In NELP-VI, India had offered 52 blocks with a gross area of 3,52,000 square km, which itself was many times bigger than earlier rounds," a government official said.
Of these 57 blocks, 19 are in deepsea, 9 in shallow water and 29 on land.
NELP-VII had been postponed several times. It was originally due in March-April, but the controversy over pricing of gas from blocks won under NELP rounds and shortage of drilling rigs forced the government to defer it.
The official said the identified blocks for NELP-VII are located in Rajasthan, Cambay, Himalayan Foreland, Punjab, Ganga, Kutch, Saurasthra, Vindhyan, Mumbai Offshore, Kerala Konkan, Purnea, Bengal, Mahanadi, Krishna Godavari, South Rewa, Palar, Assam-Arakan, Deccan Syneclise, Cuddapah and Andaman basins.
According to the tentative schedule, the roadshow will move to Singapore, Malaysia, and Perth and Adelaide in Australia in the third week of November. The government will then resume the roadshow in the second week of January, visiting London, Calgary and Houston.
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