NELP-III Winners Announced Soon

The Indian Oil Minister, Ram Naik, has said the winners of the NELP-III licensing round could be announced as soon as October 31st. The licensing round was held earlier this year in August. ONGC, Reliance Industries, Cairn Energy, Premier Oil and Hardy Exploration were among the oil companies that submitted bids.

There were twenty-seven exploration blocks up for grabs, nine deepwater blocks, six shallow water blocks and eight onshore blocks. A total of 45 bids were received on 23 blocks. Preliminary reports indicate that ONGC could be awarded 13 blocks and Reliance and Hardy would be jointly awarded nine blocks.