Oil giants vie for blocks
Global energy giants British Gas, British Petroleum, Italy's ENI and Malaysia's Petronas are among 66 firms that have bid for oil and gas blocks offered under the sixth round of auction.
By TNN |
NEW DELHI: Global energy giants British Gas, British Petroleum, Italy's ENI and Malaysia's Petronas are among 66 firms that have bid for oil and gas blocks offered under the sixth round of auction, from which the Government is expecting 8-10 billion dollars of cumulative investment.
"We have received 165 bids for 52 blocks by bid closing date today. A total of 66 companies including 35 foreign firms have bid," Petroleum and Natural Gas Ministry Additional Secretary Anil Razdan told reporters here.
State-owned Oil and Natural Gas Corp (ONGC) bid for the maximum number of 45 blocks, while Reliance Industries bid for 21. Anil Ambani Group firm Reliance Natural Resources Ltd tied with Naftogaz of Ukraine to bid for 9 blocks and with PGNIG of Poland to bid for another 3 blocks.
BG was the lead bidder in the consortium that included ONGC and Coal India Ltd for three deep-sea and one shallow water block and partnered ONGC and others in 10 deep-sea, 2 shallow water offshore and 18 onland blocks.
Malaysia's Petronas bid for one shallow water block in prospective Krishna Godavari basin.
BP bid for two Mahanadi Basin deep-sea block with ONGC while ENI was lead partner in two deep-sea, one shallow offshore and two onland blocks.
RIL bid for 17 deep-sea and blocks each in shallow water and onland. It took state-owned Oil India Ltd as partner in one Mahanadi basin deepsea block.
Cairn Energy of UK made lead bids for seven blocks on its own and was junior partner in five others.
Razdan said the bids would be evaluated by November 15 and contracts signed by January 2007.
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