India Offers 57 Exploration Blocks, Promotional Tour Scheduled

IndigoPool reports that the Indian government has opened the country's a new round of oil and gas exploration blocks. The seventh New Exploration Licensing Policy (NELP) offers 57 blocks for bidding, including 29 onshore blocks, nine shallow-water blocks and 19 blocks located in deepwater.

Companies are invited to bid on the blocks individually or in association with other companies, and companies may bid on more than one block. The deadline for bids is April 11, 2008.

The Ministry of Petroleum and Natural Gas of the Republic of India is planning on promoting the NELP VII Licensing Round at the beginning of 2008. The tour will visit Mumbai on Jan. 8, London on Jan. 24-25, Houston on Jan. 28-29 and Calgary Jan. 31-Feb. 1. The promotional tour will also visit Dubai, Perth and Singapore on dates that will be announced in the future. The Minister of Petroleum & Natural Gas, as well as several government officials, will be traveling to the promotions.

"Under NELP, so far, 49 discoveries have been made by private/joint venture companies in 15 blocks," said Murli S. Deora, the Minister of Petroleum and Natural Gas, in a statement. "In the first six rounds of NELP, expected investment is of the order of U.S. $ 8 billion."