Shell to bid for CBM blocks in next phase

New Delhi, Jan 17 (UNI) World's third largest oil and gas firm Shell today said it is interested in Coal Bed Methane (CBM) exploitation in India and will participate in the next bidding process for the blocks.

''We did not bid in CBM-III, but are looking to participate in the next phase. We are very much interested in CMB Blocks in India,'' Shell Companies Chairman Vikram Singh Mehta told reporters on the sidelines of a conference here.

The government offered and alloted 10 blocks under CBM-III rounds in 2006. It received 54 bids from 26 companies, including eight foreign companies.

The Anglo-Dutch company is also in '' active'' talks with state-run Oil and Natural Gas Corporation for Joint coal gasification programmes. It had signed a memorandum of understanding ONGC with for wide ranging co-operation in hydrocarbons value chain in January last year.

''Our MoU with ONGC is alive and very strong. Discussions with the company are very much on,'' Mr Mehta said.

In the retail space, Shell has licence to open 2,000 outlets across India, of which 21 are operational.

''The company is committed to build due presence in the areas where it operates. Every outlet (operational) has exceeded our expectations in terms of revenues and customer response,'' the Chairman said.

Mr Mehta also reiterated that the company will not sell its Hazira Plant but is open to partnerships for value addition to the project.

''We are not selling our Hazira Plant to any company. However, if anything can add value to our business we will be looking into the option,'' Mr Mehta said.

The company is also looking for expansion of the plant with a two-and-half million tonnes liquefied natural gas capacity.

''When we built this plant, we were looking to handle at least five million tonnes capacity. We are certainly looking into expansion but the global supply of gas needs to be viewed in connection with the domestic demand,'' he added.

The company has set up a technology centre in Bangalore in September last year for offering technical expertise to all group companies.

About 300-400 scientists have already been engaged by the company and the number will be ramped to 1,000 soon.

UNI