The Union Petroleum Minister, Murli Deora today announced 34 oil and gas blocks for exploration in the 9th round of New Exploration Licensing Policy (NELP-IX).
The minister maintained that the government was offering 34 blocks covering an area of 88,807 square km under the NELP IX.
The blocks offered include 8 deep-sea, 7 shallow water and 19 onland blocks. The onland blocks include 8 small blocks for which there are technical qualifying criteria for companies to bid.
Since 1999, eight NELP rounds have been made, under which 235 blocks have been awarded till date. This has resulted in enhancement of exploration coverage from 11% to about 58% of Indian sedimentary basin between 2000 and 2010.
NELP-VIII had attracted investment commitment of USD 1.34 billion for 36 blocks that received offers, while the government had offered 70 areas or blocks for exploration under the 8th round.
The biggest licensing round in India, NELP-VIII was closed on October 12, 2009. Of the 36 areas bid for, the government had awarded 33 blocks to successful bidders.
The first roadshow for NELP-IX will be held in Mumbai on October 18.
The discoveries made under the NELP have resulted in in-place hydrocarbon reserve accretion of a staggering 642 million tonnes of oil and oil equivalent gas," Deora said.
A total of 87 oil and gas discoveries have been made in 26 blocks under NELP during this period.
Out of 81 oil and gas discoveries, natural gas production in Reliance Industries eastern offshore KG-D6 block commenced from April 2009.
Last date for bidding for blocks offered under NELP-IX is March 18, 2011.
The minister maintained that the government was offering 34 blocks covering an area of 88,807 square km under the NELP IX.
The blocks offered include 8 deep-sea, 7 shallow water and 19 onland blocks. The onland blocks include 8 small blocks for which there are technical qualifying criteria for companies to bid.
Since 1999, eight NELP rounds have been made, under which 235 blocks have been awarded till date. This has resulted in enhancement of exploration coverage from 11% to about 58% of Indian sedimentary basin between 2000 and 2010.
NELP-VIII had attracted investment commitment of USD 1.34 billion for 36 blocks that received offers, while the government had offered 70 areas or blocks for exploration under the 8th round.
The biggest licensing round in India, NELP-VIII was closed on October 12, 2009. Of the 36 areas bid for, the government had awarded 33 blocks to successful bidders.
The first roadshow for NELP-IX will be held in Mumbai on October 18.
The discoveries made under the NELP have resulted in in-place hydrocarbon reserve accretion of a staggering 642 million tonnes of oil and oil equivalent gas," Deora said.
A total of 87 oil and gas discoveries have been made in 26 blocks under NELP during this period.
Out of 81 oil and gas discoveries, natural gas production in Reliance Industries eastern offshore KG-D6 block commenced from April 2009.
Last date for bidding for blocks offered under NELP-IX is March 18, 2011.
