India Govt.: 'Next Oil, Gas Blocks Auction Likely By February'

NEW DELHI (Dow Jones Newswires), September 24, 2008

The Indian government is likely to announce the next auction of oil and gas blocks by February, Petroleum Secretary R.S. Pandey said Wednesday.

The government completed the previous round of its New Exploration and Licensing Policy, or NELP-VII, in June and expects to rake in investments worth $3 billion from 57 blocks offered.

The government expects to award the blocks under NELP-VII in a few days, Pandey said.

Copyright (c) 2008 Dow Jones & Company, Inc.

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