Indian Government Invites Bids for NELP III
The Petroleum Ministry is set to invite bids for its third round of the National Exploration Licensing Policy (NELP III). This comes within a year of awarding the bids under NELP II in which 25 blocks were offered for exploration.
Under NELP III, the government is expected to offer 27 blocks. The focus this time will be on deepwater exploration along with shallow water since NELP II has shown more positive results in deepwaters as compared to other traditional exploration methods.
As a part of the deepwater offering, the regions in focus could be the eastern part of the country, mainly from the Bay of Bengal to south in Tamil Nadu.