India: Govt invites oil exploration bids, targets majors
The government invited bids for oil and gas exploration blocks on Thursday, hoping to attract global majors to Asia's third-largest oil consumer.
The government has also offered 10 blocks for exploration and production of coal bed methane.
Oil minister Murli Deora said he expected a good response from Indian and foreign firms for 55 blocks, the largest number ever offered, under the sixth round of the New Exploration Licensing Policy (NELP).
"A number of hydrocarbon discoveries made in the last 3-4 years has scaled up the geological prospectivity of India in the mind of potential investors," Deora told reporters.
( Full story here )
The government has also offered 10 blocks for exploration and production of coal bed methane.
Oil minister Murli Deora said he expected a good response from Indian and foreign firms for 55 blocks, the largest number ever offered, under the sixth round of the New Exploration Licensing Policy (NELP).
"A number of hydrocarbon discoveries made in the last 3-4 years has scaled up the geological prospectivity of India in the mind of potential investors," Deora told reporters.
( Full story here )
posted by Oil Shock at 2/23/2006 09:24:00 PM
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