British Gas Likely To Bid for Offshore Blocks in NELP-III
Monday, August 12, 2002
British Gas is expected to bid for the deepwater blocks being offered under the third New Exploration Licensing Policy or NELP. BG India Pvt Ltd chief operating officer Nigel Shaw said that BG has held talks with all major exploration companies in India to trying to form a joint venture for exploration under NELP. He said, "We are looking at various factors such as cost of drilling and developing the fields that would be offered under the third round of NELP before we bid for the blocks." The government would be inviting bids for 27 blocks in the third round by the end of this month.