Indian offering draws bids for 16 offshore, 7 onshore tracts

The Indian government has received bids for 16 offshore and seven onshore blocks in the second round of the new exploration licensing policy (NELP-II). The state-owned Oil & Natural Gas Corp. competed with a partnership of Reliance Industries Ltd. and Hardy Exploration and Production India Ltd. to dominate the offering.


By an OGJ Online Correspondent

NEW DELHI, May 7 -- The Indian government has received bids for 16 offshore and seven onshore blocks in the second round of the new exploration licensing policy (NELP-II).

A partnership of Reliance Industries Ltd. and Hardy Exploration and Production India Ltd. dominated the offshore portion of the offering, bidding for all eight deepwater blocks and half of the eight shallow-water blocks. It was sole bidder on three of the deepwater blocks.

The state-owned Oil and Natural Gas Corp. bid for five deepwater blocks, either on its own or in association with other public sector oil companies like Gas Authority of India, Ltd., Oil India Ltd., and Indian Oil Corp.

Of the eight shallow offshore blocks, ONGC was the sole bidder on three. With partners, it also bid for the other five.

The offshore tract drawing the most interest was the shallow-water Block 10 in the Mumbai basin. The 18,414 sq-mile tract drew four bids.

Onshore, Reliance-Hardy and ONGC continued to dominate the offering. ONGC bid for 5 blocks and Reliance-Hardy bid for three.

Block 20 in the Cambay basin drew the most bids. The 1,424 sq mile block attracted five offers.

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