Global majors line up for oil exploration under Nelp-VII
Global oil firms, including ENI, Total, MOL, Mittal, BP, StatoilHydro and Harvest Natural, have expressed interest in the new round of Indian oil hunt.
By TNN |
NEW DELHI: Global oil firms, including ENI, Total, MOL, Mittal, BP, StatoilHydro and Harvest Natural, have expressed interest in the new round of Indian oil hunt.
“As of today, 13 companies have booked for the New Exploration Licensing Policy (NELP VII) data viewing at London data room,” an oil ministry official said. Data viewing facilities at London will be available until the end of March.
To facilitate data viewing by potential investors, the ministry would also be opening data centres at Noida, Houston, London, Calgary and Perth, he said.
A delegation led by oil minister Murli Deora is currently in London to promote NELP VII to prospective exploration & production (E&P) companies and investors.
The last date for submission of bids for 57 blocks offered under NELP VII is April 11. “The government is committed to complete evaluation, award and signing of production sharing contracts (PSCs) in a strict time frame and the whole process would be completed in a transparent manner in three to four months from bid closing date as demonstrated in past rounds of NELP,” Mr Deora told investors in London.
The ministry launched an effective promotional campaign in London recently, showcasing 57 exploration blocks on offer under NELP VII.
Blocks offered under this round include 19 deepwater blocks, nine in shallow water and 29 in onland. This is the first road show abroad after the inaugural road show in Delhi on January 8.
As many as 97 companies comprising 35 E&P, 27 service providers, 20 investment companies, bankers and 15 others participated in the London road show, an official said.
“As of today, 13 companies have booked for the New Exploration Licensing Policy (NELP VII) data viewing at London data room,” an oil ministry official said. Data viewing facilities at London will be available until the end of March.
To facilitate data viewing by potential investors, the ministry would also be opening data centres at Noida, Houston, London, Calgary and Perth, he said.
A delegation led by oil minister Murli Deora is currently in London to promote NELP VII to prospective exploration & production (E&P) companies and investors.
The last date for submission of bids for 57 blocks offered under NELP VII is April 11. “The government is committed to complete evaluation, award and signing of production sharing contracts (PSCs) in a strict time frame and the whole process would be completed in a transparent manner in three to four months from bid closing date as demonstrated in past rounds of NELP,” Mr Deora told investors in London.
The ministry launched an effective promotional campaign in London recently, showcasing 57 exploration blocks on offer under NELP VII.
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Blocks offered under this round include 19 deepwater blocks, nine in shallow water and 29 in onland. This is the first road show abroad after the inaugural road show in Delhi on January 8.
As many as 97 companies comprising 35 E&P, 27 service providers, 20 investment companies, bankers and 15 others participated in the London road show, an official said.
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