Countdown to India’s NELP-VI bid round begins

The countdown has commenced for India’s sixth round of bidding for oil and gas exploration blocks under the New Exploration Licensing Policy (NELP-VI).The bid closing date for NELP-VI is Sept. 15, and the awards will be announced in mid-January.Nearly 70 companies, consultants, and organizations have expressed interest in NELP-VI, which offers 55 blocks-25 onshore, 6 in shallow water, and 24 in deep water. This is the largest ever acreage India has offered-about 355,000 sq km-and the largest number of blocks.At least two major finds over the past 5 years have led many global oil majors to reevaluate Indian plans. These were Reliance Industries Ltd.’s large KG basin gas strike ...

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