US and UK oil companies keen on oil exploration in India

New Delhi, Apr 11: Oil companies from the US, UK and Australia have exhibited interest in acquiring data pacakages of India's sedimentary basins for oil explorations, Union Petroleum and Natural Gas Minister Murli Deora said today.

''More than Rs 40 crore of data has already been sold to companies worldwide since the closure of previous round of New Exploration Licensing Policy (NELP) which is far higher than the entire value of data sold during the earlier round,'' Mr Deora said.

There is heavy booking at some centres with no slot vacant until May 2006.

Mr Deora had recently concluded a visit which he terms, ''successful'' to London, Houston and Washington to promote oil and gas blocks offered under the 6th round of NELP and third round of Coal Bed Methane (CBM) policy. The bids of the CBM round will be received by 30th June 2006 whil those of NELP-VI by 15th September 2006, the Minister said.

The Minister addressed oil and gas investors in these cities and met prominent members of the investor community in Europe and US.

He said that oil and gas companies in UK and US have exhibited an unprecedented interest in the oil and gas offerings as was evident from the large attendance at all the roadshows.

The presence of the representatives of the companies was much higher than durng the roadshows earlier held during the 5th round of NELP.

The Minister led the talks with Lord Browne, CEO, British Petroleum, Sir Robert Wilson, Chief Executive of British Gas, Mr Rex Tillerson, EO, Exxon Mobil and Ms Linda Cook, Director Shell International. He also met officials of BHP, Conoco Philips, Anadarko, Maersk, Repsol, Woodside and others.

The Australian leg of the promotional tour similarly witnessed an unprecedented response from oil and gas companies, especially for the CBM blocks which is emerging as an important environment-friendly source of energy.

UNI