ONGC Secures 8 of the 18 Blocks Cleared in NELP V
ONGC has emerged the biggest beneficiary of the fifth round of the New Exploration Licensing Policy, grabbing 8 of the 18 Oil and Gas blocks which have been cleared by the Cabinet Committee on Economic Affairs (CCEA) on July 25, 2005. A total of 69 bids were received for these blocks.
These 18 blocks were awarded by the government, out of the 20 blocks offered under this round of NELP. Decisions on two blocks in the Assam Arakan region have been deferred, citing legal problems.
Out of the six deepwater blocks, ONGC has got two, one independently and the other with ENI (India) and GAIL.
Both the shallow water blocks have been awarded to ONGC, again one independently and the other (in the Gulf of Saurashtra) with UK explorer Cairn Energy.
In the onland scenario, ONGC has won 4 of the 10 blocks – all with Cairn.
With this, the total number of NELP blocks with ONGC now mounts to 59, out of the 108 blocks which have been awarded in the five rounds.
Reliance has taken home 5 blocks, 3 of them in the prospective deepwater basins in eastern offshore.
The decision on the two Assam Arakan blocks are expected to be taken soon.
Operates 45 Offshore Rigs
Manages 8 Offshore Rigs
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