India Encouraged by Response to NELP III
India's Petroleum and Natural Gas Minister Ram Naik said there was an "encouraging" response to the recent promotional roadshows for 27 oil and natural gas blocks being offered under the third round of the country's New Exploration Licensing Policy. The roadshows were held in New Delhi, Singapore, London, Houston and Calgary between April and June. The last date for submission of bids is August 28.
"There is appreciation in the global oil industry about the progress made and initiatives taken by the government of India in the hydrocarbon sector in the last three years. This would certainly reflect in the bids," Naik said in a statement. Bids will be evaluated on technical capability, financial strength, committed work program and fiscal package, Naik said.
ExxonMobil, Shell, BG Group, Unocal, Petroliam Nasional Bhd, Woodside Petroleum, Cairn Energy and Talisman Energy were among some of the oil companies that attended the roadshows.