Minister defends India's NELP program

India’s minister of state for petroleum and natural gas has defended the country’s New Exploration Licensing Policy (NELP) against criticism that the program hasn’t attracted broad international interest, saying 7 of 36 companies submitting bids in the latest round are non-Indian (OGJ Online, Mar. 28, 2012).

The minister, Shri R.P.N. Singh, said foreign bidders in the ninth NELP round were Birkbeck Investments Ltd., Mauritius; East West Petroleum Corp., Canada; Heramec Ltd., Bahamas; Cairn Energy India Pty. Ltd., Australia; BHP Billiton Petroleum (International) Exploration Pty. Ltd., Australia; Deep Energy LLC, US; and BG Exploration & Production India Ltd., Cayman Islands.

Singh made his report in response to an inquiry from the Lok Sabha, the lower house of Parliament. India held its first NELP bidding round in 1999.

Singh said the program has attracted investment of about $20 billion and resulted in 40 oil and 71 gas discoveries, representing proved plus probable reserves totaling 737 million tonnes of oil equivalent.

Production has begun from six NELP discoveries, he said, with current rates of 11,300 b/d of oil and 29 million standard cu m/day.

In the nine NELP rounds, the government has signed production sharing contracts covering 249 blocks.

Related Articles

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Industry group welcomes most UK budget moves

03/21/2014 Oil & Gas UK voiced support for all but one of several measures affecting the offshore producing industry announced in the UK government’s annu...

MARKET WATCH: Crude oil, gas futures prices slide entering spring

03/21/2014

The first day of spring in the northern hemisphere was marked by lower crude oil and natural gas futures prices.

OMV acquires West of Shetland licenses from Hess

03/21/2014 OMV AG has reached an agreement with Hess Corp. to acquire four licenses in West of Shetland, UK, including Cambo field and the Blackrock prospect,...

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