GAIL to bid for NELP-VI blocks
State-owned gas utility GAIL (India) Ltd is likely to bid for atleast one-third of the 55 oil and gas blocks offered under the sixth round of auction.
By PTI |
NEW DELHI: State-owned gas utility GAIL (India) Ltd is likely to bid for atleast one-third of the 55 oil and gas blocks offered under the sixth round of auction.
"We have been participating in the previous New Exploration Licensing Policy (NELP) rounds and will definitely put in strong bids this time around too," GAIL Chairman and Managing Director S P Rao told media here.
He said the company is in talks with several foreign firms for making a joint bid but refused to name them.
An official, however, said talks are at an advanced stage with Italy's ENI, Daewoo International of South Korea, Gazprom of Russia, Oman's Petrogas E&P LLC, Foresight Oil of UK, Silver Bay Resources Ltd of Canada and Australia's Tap Oil Ltd.
The GAIL consortium may also include one or more Indian firms including Gujarat State Petroleum Corp (GSPC), Jubilant Enpro and Oil and Natural Gas Corp (ONGC).
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GAIL, which holds participation interest in 12 exploration blocks including two NELP-I blocks, six NELP-II blocks, two NELP-IV blocks, is considering to make a bid for atleast 18 blocks on offer, the official said without giving details.The largest ever exploration licensing round closes on September 15.
Of the 55 blocks on offer in NELP-VI, 24 are in deepsea, 25 onland and six shallow water offshore blocks.
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