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New Delhi, Sept. 8

The Petroleum Minister, Mr Murli Deora, has said that the Government will finalise the award of oil and gas exploration blocks under the eighth round of New Exploration Licensing Policy (NELP-VIII) and the fourth round of Coal Bed Methane Policy (CBM-IV) by middle of December.

Speaking at a promotional campaign in London showcasing 70 exploration blocks on offer under NELP-VIII and CBM-IV on Tuesday, the Minister assured that the process of awarding exploration blocks will be completed within four months from the receipt of bids.

The bids are expected to be finalised for award by the middle of December and the production sharing contract will be signed in another two months, an official statement issued here said.

The bid closing date for NELP-VIII & CBM-IV is October 12.

The road show was attended by a large number of companies and organisations including 25 E&P companies, 30 service providers. Some of the E&P companies were BG Group, BP, ENI, Cairn Energy, Premier Oil, Shell Upstream International, Nexen Inc, Foresight Ltd, and Hardy Exploration.

Further road shows have been planned at Perth (September 22) and Brisbane (September 24-25). Road shows have already been held at Mumbai, Houston, and Calgary.

More Stories on : Petroleum | Policy

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