Highest ever offering for exploration of oil and gas

New Delhi, Sep 15 (UNI) In the highest ever offering of 55 blocks in the sixth round for oil and gas exploration, the government announced hat it has received 165 bids at the bid closing day today with ONGC, Reliance Industries Limited (RIL), British Gas,and French company Total figuring prominently.

Called the New Exploration Licensing Policy (NELP)-VI which covers an area of 3.52 lakhs sq km a total of 66 companies including 35 foreign companies and 31 Indian companies have bid either on their own or as consortia.

A total of 165 bids, the highest ever for 52 blocks under the sixth round were received which is far higher than the 69 received in the last round of NELP-V, Additional Secretary Petroleum Ministry, Anil Razdan said at a press conference here.

A total of 20 new foreign companies out of 35 foreign companies submitted bids under NELP-VI, while 39 blocks attracted multiple bids.

One block received 10 bids while 13 blocks received a single bid ONGC bid for 45 of the 55 blocks on offer while Reliance Industries bid for 21 blocks of which 17 are in deep water, sources said.

While 52 bids were received for deep water blocks, shallow offshore blocks got 24 bids and onland blocks got 89 bids.

The oil and gas blocks offered under the sixth auction of NELP also saw foreign giants Total of France, British Petroleum, British Gas, ENI of Italy placing bids.

For deep-sea blocks, ONGC partnered with BP, BG, ENI while for other offshore and onland blocks it tied-up with Cairn Energy of UK, GAIL, HPCL and Oil India.

Other companies putting in bids include GSPC, Videocon and Tata Petrodyne. The Anil Ambani Group tied-up with Ukraine's Naftogaz for placing the bids.

However three deepwater blocks, KK-DWN-2004/2, KK-DWN-2004/3 and AN-DWN-2004/1 have not received any bid.

The government will award the blocks by November 15 and is expected to sign contracts by January 15, 2007.

''You will find substance after bids are evaluated,'' Mr Razdan said.

''Of the total 55 blocks offered by India, 52 blocks attracted 165 bids,'' said Director general Hydrocarbons, V K Sibal said.

''The response is very good. We offered the highest ever acreage in this round. India has political stability and there is transparency in our system,'' Mr Sibal said.

British Petreoleum has expressed an interest in two deepwater blocks this time round.

Canada's GeoGlobal Resources is looking for five onland blocks in a tie up with Oil India Ltd. Calgary's Niko Resources Ltd has entered solo bids for three blocks.

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