India: PSCs signed on 13 ninth bid round blocks

By OGJ editors

The government of India has signed production sharing contracts on 13 of 16 exploration blocks awarded in the ninth bid round under the country’s new exploration licensing policy.

The government had received 74 bids for 33 of the 34 blocks offered. Of the 16 blocks just awarded, 14 are onshore and two are in shallow water. Bids for 10 other blocks were rejected as giving the government too low a percentage of profit petroleum. The government also judged inadequate the net worth of the single bidder for the CB-ONN-2010/7 block and rejected that bid.

Three of the 16 PSCs weren’t signed because the bidder could not be present. The other six blocks will be considered for award separately, the government said.

The 13 most recent signings bring the number of signed PSCs under the NELP program to 248.

Related Articles

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/19/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

CNOOC makes gas discovery in Qiongdongnan basin

03/19/2014

CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal

03/19/2014

FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected