IOC aggressive for S-blocks in NELP VII: Behuria

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New Delhi, Jan 31 (UNI) Indian Oil Corporation (IOC), the country's largest commercial enterprise, today said it is planning to bid jointly for the some small oil and gas blocks in the seventh round of the New Exploration Licencing Policy (NELP).

''We are very aggressive for small blocks (with area less than 200 square km) which are to be offered in the NELP VII.

Talks have been held with some big players in this direction and have received very good response,'' IOC Chairman Sarthak Behuria told reporters while announcing the third quarter results.

As a preparatory action, IOC has approached and held talks with a few foreign companies for a joint bid, including Brazil's state-oil company Petrobras, he said.

He, however, added that presently nobody is ready to commit.

The country's flagship oil firm is interested in small oil and gas blocks categorised as 'S' blocks, since prior experience in the sector is not required, Mr Behuria said.

The Chairman earlier said that the firm was likely to be more inclined toward a foreign partner for large blocks as the government in this round of bidding was encouraging more foreign participation.

The government had relaxed bidding norms for the S blocks, for which bid evaluation will be on the basis of work programme and fiscal packages parameters only and technical competency is not considered.


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