OIL bags 8 oil blocks in NELP-VI
State-run Oil India Ltd has been awarded eight oil and gas exploration areas in the recently- concluded sixth round of auction under the New Exploration Licensing Policy (NELP).
By PTI |
NEW DELHI: State-run Oil India Ltd has been awarded eight oil and gas exploration areas in the recently- concluded sixth round of auction under the New Exploration Licensing Policy (NELP).
"OIL will be the operator for six onshore blocks and non-operator in two deep water blocks," the company said in a press release here.
A total of 52 exploration blocks were awarded in NELP-VI.
Prior to NELP-VI, OIL was awarded 14 blocks in five rounds of NELP and was operator in six blocks.
"With the award of NELP-VI blocks, OIL will have 22 blocks and will double its operatorship from 6 to 12 blocks under NELP," it said.
In addition, OIL also has acquired participating interest in two exploration blocks in Yemen, one block in Nigeria and one block in Gabon in the recent past.
The blocks awarded to OIL under NELP-VI as operator are MZ-ONN-2004/1 in Mizoram, blocks AA-ONN-2004/1 and AA-ONN-2004/2 in Assam, blocks RJ-ONN-2004/2 and RJ-ONN-2004/3 in Rajasthan and KG-ONN-2004/1 in the Krishna Godavari basin.
It has non-operator minority stake in deep-sea blocks KG-DWN-2004/5 and KG-DWN-2004/6 in the Krishna Godavari basin.
"Some of these blocks are very prospective," the release said.
The Production Sharing Contracts for the eight blocks are expected to be signed in March.
"OIL will be the operator for six onshore blocks and non-operator in two deep water blocks," the company said in a press release here.
A total of 52 exploration blocks were awarded in NELP-VI.
Prior to NELP-VI, OIL was awarded 14 blocks in five rounds of NELP and was operator in six blocks.
"With the award of NELP-VI blocks, OIL will have 22 blocks and will double its operatorship from 6 to 12 blocks under NELP," it said.
In addition, OIL also has acquired participating interest in two exploration blocks in Yemen, one block in Nigeria and one block in Gabon in the recent past.
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The blocks awarded to OIL under NELP-VI as operator are MZ-ONN-2004/1 in Mizoram, blocks AA-ONN-2004/1 and AA-ONN-2004/2 in Assam, blocks RJ-ONN-2004/2 and RJ-ONN-2004/3 in Rajasthan and KG-ONN-2004/1 in the Krishna Godavari basin.
It has non-operator minority stake in deep-sea blocks KG-DWN-2004/5 and KG-DWN-2004/6 in the Krishna Godavari basin.
"Some of these blocks are very prospective," the release said.
The Production Sharing Contracts for the eight blocks are expected to be signed in March.
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