Business Daily from THE HINDU group of publications
Tuesday, Dec 11, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 11, 2007 ePaper | Mobile/PDA Version |
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Petroleum Government - Policy Mittal group may take part in oil, gas blocks’ bid Our Bureau New Delhi, Dec. 10 The seventh round of New Exploration Licensing Policy (NELP) will offer 57 oil and gas blocks. Speaking to newspersons here on Monday, the Petroleum Minister, Mr Murli Deora, said, “we will announce NELP-VII on December 13.” The round may also see steel baron Mr L. N. Mittal’s group participating for the first time. Of the 57 blocks to be offered, nine are in shallow water, 19 in deep water and 29 are on land blocks. Most of the deepwater blocks would be in the western offshore. Bids close on April 11, 2008 and the awards would be decided by July end. In the latest round, the intent is to attract more global majors who have the expertise to develop complex deepwater blocks. The seventh round would see change in bid evaluation criteria to give more weightage to companies having experience in deep water exploration and production. Additional marks would be given to those involving foreign partners with deepwater experience. For onland blocks the criteria has been relaxed to make almost anyone eligible. Mr Deora said the first roadshow for NELP-VII would be held in Mumbai on January 8 and the overseas promotional campaign would be launched towards the end of the month. Roadshows have been planned at a number of places including Houston, Calgary, London and Perth. NELP VII launch postponed to Dec NELP-7: Changes likely in bid evaluation norms NELP VII auctions to begin in Nov More Stories on : Petroleum | Policy
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