BG may tie-up with Oil India for some blocks in Assam
BG India, the Indian subsidiary of British Gas, hints at forging a tie-up with OIL to bid for some blocks in Assam in the seventh round of auction under NELP.
By PTI |
MUMBAI: BG India, the Indian subsidiary of British Gas, on Tuesday hinted at forging a tie-up with Oil India Limited to bid for some blocks in Assam in the seventh round of auction under New Exploration Licensing Policy (NELP).
"OIL has good presence in Assam. Out of the 57 blocks are on offer, 2-3 of them are in that state. We may tie-up with OIL to bid for these blocks," BG India's Managing Director Kapil Garg told reporters here.
The company, however, is open to bid for both shallow and deep-water blocks, but it would evaluate different issues before finally submitting bids. "We do have the technology for carrying out activities in deep-water blocks. We need partners which can add value," Garg said.
The Government expects $7-8 billion investment from the exploration work alone in the 57 blocks on offer under NELP-VII.
"OIL has good presence in Assam. Out of the 57 blocks are on offer, 2-3 of them are in that state. We may tie-up with OIL to bid for these blocks," BG India's Managing Director Kapil Garg told reporters here.
The company, however, is open to bid for both shallow and deep-water blocks, but it would evaluate different issues before finally submitting bids. "We do have the technology for carrying out activities in deep-water blocks. We need partners which can add value," Garg said.
The Government expects $7-8 billion investment from the exploration work alone in the 57 blocks on offer under NELP-VII.
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