New Delhi, Dec 02: Cabinet committee on economic affairs (CCEA) today awarded bulk of the 21 oil and gas exploration blocks to state-run Oil and Natural Gas Corp (ONGC) in fourth round of new exploration licensing policy (NELP). ONGC, along with partners, won 15 blocks while private sector Reliance Industries Ltd could manage only one.
With this 91 blocks have been awarded in the four rounds of bidding under NELP, entailing a combined investment of Rs 19,050 crore, official sources said.
A minimum investment of Rs 2010 crore has been committed in first exploratory phase in the 21 blocks awarded in NELP-IV. The total investment in three phases of exploration, development and production in these blocks comes to Rs 5100 crore.
Cairn Energy of UK won a Ganga Valley onland block on its own and an onshore block in Cambay basin in Gujarat in partnership with ONGC. The other big names in fray - British Energy firm BG Group, Canadian Niko Resources and Russia's Zarubezneftgaz drew blank.
Reliance Industries, which teamed up with Hardy Oil of UK to bid for eight of the 12 deepwater blocks on offer, could manage only the NEC-DWN-2002/1 deep-sea block, they added.
When contacted, Petroleum Minister Ram Naik told reporters that "I am happy that exploration efforts will get a big boost in the award of 21 blocks. We completed the evaluation of 19 bids received in a record 2 months times. Compared to this is previous track record of awarding blocks in 6 months time".
Naik said the government will come out with the fifth round of NELP in April next year.
Bureau Report