New Delhi, Mar 2 (UNI) The government today signed contracts for the 52 oil and gas blocks awarded under sixth round of NELP with major oil companies including Reliance Industries, ONGC, Oil India, Cairn and Essar.
Over 165 bids were recieved for the 52 blocks making it the largest ever auction of energy assets. A total of thirty six foreign firms participated in the process.
Public sector giant Oil and Natural Gas Corporation (ONGC) headed the list with 25 blocks, while Reliance Industries received seven deepwater blocks in the gas-rich eastern offshore region.
Of the 25 blocks awarded, ONGC will be the operator in 24, while Cairn Energy would be the operator in one offshore block.
''In the earlier five rounds of NELP, 110 contracts have been signed which has resulted in 32 discoveries of oil and gas, establishing in place reserves (IPR) of 400 million metric tonnes oil and oil equivalent of gas,'' Petroleum Minister Murli Deora said addressing the occasion.
The contribution of private and joint venture companies to India's oil and gas production is at a healthy 18 per cent, he added.
NELP-VI, entailing an investment of five billion dollars by the winners in the initial five years from 2007 to 2012, will lead India join the league of nations which will have one of the most extensive dep water exploration programme, Mr Deora said.
''We would soon start the process of interacting with the state governments, Ministry of Environment on a continous basis to get petroleum exploration licenses and environment clearances expedited to enable companies to implement their work programme in a tie bound manner,'' Mr Deora said.
The seventh round of auction of exploration acreage is scheduled to be held in mid of April.
UNI
Over 165 bids were recieved for the 52 blocks making it the largest ever auction of energy assets. A total of thirty six foreign firms participated in the process.
Public sector giant Oil and Natural Gas Corporation (ONGC) headed the list with 25 blocks, while Reliance Industries received seven deepwater blocks in the gas-rich eastern offshore region.
Of the 25 blocks awarded, ONGC will be the operator in 24, while Cairn Energy would be the operator in one offshore block.
''In the earlier five rounds of NELP, 110 contracts have been signed which has resulted in 32 discoveries of oil and gas, establishing in place reserves (IPR) of 400 million metric tonnes oil and oil equivalent of gas,'' Petroleum Minister Murli Deora said addressing the occasion.
The contribution of private and joint venture companies to India's oil and gas production is at a healthy 18 per cent, he added.
NELP-VI, entailing an investment of five billion dollars by the winners in the initial five years from 2007 to 2012, will lead India join the league of nations which will have one of the most extensive dep water exploration programme, Mr Deora said.
''We would soon start the process of interacting with the state governments, Ministry of Environment on a continous basis to get petroleum exploration licenses and environment clearances expedited to enable companies to implement their work programme in a tie bound manner,'' Mr Deora said.
The seventh round of auction of exploration acreage is scheduled to be held in mid of April.
UNI
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