BP India unit to bid for deepwater blocks

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New Delhi, Nov 6 (UNI) BP India, an arm of British energy firm BP, today said it will bid for deepwater exploration blocks to be auctioned by the government by the year-end.

''The company is keen only in deepwater blocks,'' BP India's Country Head Ashok K Jhawar told reporters on the sidelines of a energy summit here.

In New Exploration Licensing Policy (NELP VI), BP unsuccessfully bid for two blocks in a tie-up with state-run explorer Oil and Natural Gas Corporation.

''BP was still open to possible investments in the downstream sector in India,'' Mr Jhawar added.

The next round of oil and gas asset auctions (NELP VII) is likely to be announced next month.

The government awarded 52 oil and gas exploration blocks under NELP-VI, in which ONGC got 24 and Reliance Industries won the bid for seven.

So far, India has awarded 110 exploration blocks to bidders under five NELP rounds to shore up domestic oil and gas production.

UNI

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