Under NELP, "68 discoveries of oil and gas (have been made) in 19 blocks, establishing in-place reserves of 500 million tonnes of oil and oil equivalent gas," Indian Petroleum Minister Murli Deora said.
Author: Ksenia Kochneva
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India To Launch Auction of Oil and Gas Exploration Areas
The auction is planned for February, and it will be offering over 100 blocks for international bidding
India is looking at using lower rig rates and oil field services that are likely to result from fall in international oil prices and global recession to comb the unexplored areas, so that its import dependence could be cut.
So far, 206 blocks have been awarded under seven rounds of bidding under the New Exploration Licensing Policy (NELP).
Petroleum Secretary R S Pandey announced the round would come in February, while oil regulator DGH said 400,000 sq km of area roughly divided into more than 100 blocks would be offered in the next round.
Under NELP, "68 discoveries of oil and gas (have been made) in 19 blocks, establishing in-place reserves of 500 million tonnes of oil and oil equivalent gas," Indian Petroleum Minister Murli Deora said.
Author: Ksenia Kochneva
Under NELP, "68 discoveries of oil and gas (have been made) in 19 blocks, establishing in-place reserves of 500 million tonnes of oil and oil equivalent gas," Indian Petroleum Minister Murli Deora said.
Author: Ksenia Kochneva
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