Eric Watkins
Senior Correspondent
LOS ANGELES, July 24 – As many as a dozen international oil companies reportedly have expressed interest in the Krishna Godavari basin gas and oil discovery block off India's Andhra Pradesh coast.
Malaysia's New Straits Times newspaper said the companies have submitted nonbinding bids for development of the block, which is owned by Gujarat State Petroleum Corp.
GSPC last month found new reserves of oil and gas on the block, where it plans to invest $369.9 million. GSPC is said to be interested in selling 20-30% of its 80% participating interest in the block.
Companies bidding for the gas block reportedly include Malaysia's Petronas, the UK's Royal Dutch Shell PLC, BP PLC, and BG Group PLC, France's Total SA, Brazil's Petroleo Brasileiro SA (Petrobras), and Italy's Eni SPA.
Other interested firms include Norway's Statoil ASA, Spain's Repsol YPF SA, US-based Anadarko Petroleum Corp., Canada's Husky Energy Inc., and the UAE's Crescent Petroleum.
Contact Eric Watkins at [email protected].
