Cairn Wins More Indian Acreage in NELP-VI

Cairn India has secured an interest in two new exploration blocks in India - PR-OSN-2004/1 and KK-DWN-2004/1. The blocks were awarded to Cairn India under the sixth New Exploration Licensing Policy round (NELP VI).

--The Government of India (GoI) had offered 55 exploration blocks - the highest ever offering under the NELP process
--165 bids were submitted for 52 blocks with a total of 68 companies bidding
--32 Indian companies and 36 foreign companies took part, with 20 of the foreign firms participating in the Indian bid round for the first time
--Cairn India and Cairn through Capricorn Energy submitted 12 joint venture bids along with ONGC, Videocon, Tata Petrodyne, British Gas and Total.

Details of the two offshore blocks awarded to Cairn India are as follows:

--PR-OSN-2004/1 (Palar Basin) Cairn Energy India Pty Limited 10% (Operator), Cairn India Limited 25%, ONGC 35% and Tata Petrodyne 30%. The block area is 9,400 km2.
--KK-DWN-2004/1 (Kerala Konkan Basin) Cairn India Limited 40%, ONGC 45% (Operator) and Tata Petrodyne 15%. The block area is approximately 12,324km2.

Rahul Dhir, Chief Executive of Cairn India said:

"We're delighted to have secured further important acreage in India to add to our substantial portfolio. The wider Petroleum Industry is now looking keenly at India as a result of the significant discoveries made in recent years by a number of companies including Cairn. The significant industry interest substantiates our belief that India is an extremely attractive place to look for oil and gas."

Related Companies
 Company: Cairn Energymore info


 - Cairn Energy: SNE-5 Appraisal Well Hits Oil, Gas (Mar 7)
 - AkerBP, Cairn Energy Make Jefferies Top Pick List (Jan 9)
 - ConocoPhillips Confirms FAR Holds Pre-Emption Right for Senegal Project (Aug 23)
 Company: Total S.A.more info
 - Uganda, Tanzania Sign Deal for World's Longest Heated Pipeline (May 26)
 - ExxonMobil, Total Discuss Offshore Drilling Opportunities In Greece (May 19)
 - Total Expands Oil Search Offshore West Africa With Mauritanian Deal (May 12)
 Company: ONGCmore info


 - ONGC Said to See Spending Plans Curtailed by Potential Merger (Mar 2)
 - India's Top Oil Explorer To Invest $1.1B To Boost Output (Feb 23)
 - India Top Oil Explorer Takes Profit Hit From Royalty Payments (Feb 21)
 Company: Videocon Industriesmore info
 - Petrobras' Indian Partners Fight Delay In Troubled Brazil Oil Project (Jul 4)
 - India's Videocon Considers Divesting Upstream Assets to Repay Debts (Jun 13)
 - Timor-Leste Issues Termination Notice for PSC JPDA 06-103 (Jul 16)
 Company: British Gasmore info
 - Centrica Continues Boardroom Reshuffle with New British Gas Head (Oct 31)
 - Centrica Clinches Stake in Gas Development Block Offshore Trinidad (Jun 2)
 - British Gas, Petronas, Edison to Invest $2.1B in Egypt (Feb 4)
 Company: Cairn Indiamore info
 - Sri Lanka Launches Tender To Develop Natural Gas Site In Mannar Basin (Feb 13)
 - Mangala Field Hits 300 Million Barrels of Cumulative Production (Oct 20)
 - Vedanta Wins Cairn Nod For BHP-Style Resources Conglomerate (Sep 13)
 Company: Capricorn Energymore info
 - Cairn Takes Reins as 100% Owner in Capricorn Exploration Unit (Nov 30)
 - EMGS Lands 3D Survey Gig Offshore Greenland (Aug 12)
 - Capricorn Secures 2 Exploration Licenses Offshore Greenland (Oct 27)
 Company: Tata Petrodynemore info
 - EnCore Reaches TD on Cobra Appraisal Well (May 12)
 - Hardy Announces Prelim 2006 Results (Apr 2)
 - EnCore Farms Out Interest in Blocks 48/1b & 48/2c to New UKCS Entrants (Mar 13)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours