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

Market watch: Energy futures prices rose slightly Friday

05/06/2002 Crude oil futures prices rose slightly Friday amid lingering uncertainty about a possible disruption of Middle East supplies, although tensions in ...

Gulf of Mexico oil service sector showing signs of an upturn

05/06/2002 The Gulf of Mexico oil service sector is experiencing the signs of an upturn, analysts with Simmons & Co. International, UBS Warburg LLC, and RBC D...

OTC: Industry, national agencies need to work together to make FPSOs work in the gulf

05/06/2002 Over the coming years, the oil and gas industry will have to keep an open line of communication with national agencies such as the US Coast Guard a...

Market watch: Energy futures prices fall as Iraq lifts embargo

05/07/2002 Crude oil futures prices fell Monday after Iraq announced plans to lift a self-imposed export embargo with exports expected to resume by Wednesday.

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