India launches roadshow for NELP-VII
Expecting a global participation and investments of around $ 8 billion in exploration alone, the govt launched the roadshow of the 7 round of auctioning under NELP.
By PTI |
MUMBAI: Expecting a global participation and investments of around $ 8 billion in exploration alone, the government on Tuesday launched the roadshow of the seventh round of auctioning under New Exploration Licensing Policy, which offers 57 oil and gas blocks for prospecting.
"I invite all E&P companies worldwide to participate in the NELP-VII bidding process," Union Petroleum and Natural Gas Minister Murli Deora said.
Among the blocks on offer are 19 in deepwater, nine in shallow water and 29 onland, covering a sedimentary area of 1.71 lakh square kilometer.
Though the auction process was delayed twice last year, the government is "committed to complete bids evaluation, award and signing of production sharing contracts in a strict time frame," Deora said.
The bids, in which the government expects L N Mittal, Chevron Corp and Exxon Mobil to participate among others for the first time, would close on April 11, 2007.
UK's British Gas, Cairn Energy, Premier Oil, Hardy, Canada's Niko and domestic players like, ONGC, GAIL, IOC, Reliance Industries, Essar Oil, OIL and HPCL are some of the prominent exploration and production companies that were present at the roadshow among 138 others.
The government will organise such roadshows in the US, UK, Canada, Australia among seven other destinations to woo major players which did not participate in the earlier rounds.
"I invite all E&P companies worldwide to participate in the NELP-VII bidding process," Union Petroleum and Natural Gas Minister Murli Deora said.
Among the blocks on offer are 19 in deepwater, nine in shallow water and 29 onland, covering a sedimentary area of 1.71 lakh square kilometer.
Though the auction process was delayed twice last year, the government is "committed to complete bids evaluation, award and signing of production sharing contracts in a strict time frame," Deora said.
The bids, in which the government expects L N Mittal, Chevron Corp and Exxon Mobil to participate among others for the first time, would close on April 11, 2007.
UK's British Gas, Cairn Energy, Premier Oil, Hardy, Canada's Niko and domestic players like, ONGC, GAIL, IOC, Reliance Industries, Essar Oil, OIL and HPCL are some of the prominent exploration and production companies that were present at the roadshow among 138 others.
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The government will organise such roadshows in the US, UK, Canada, Australia among seven other destinations to woo major players which did not participate in the earlier rounds.
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