ONGC awarded most of 21 new exploration blocks

Friday, 05 December 2003, 20:30 IST
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NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) has bagged most of the 21 oil and gas exploration blocks awarded by India under the fourth round of the new exploration licensing policy (NELP). Of the 10 onland and 11 deepwater blocks approved by the Cabinet Committee on Economic Affairs (CCEA) Wednesday night, ONGC has bagged a total of 15 blocks either independently or in partnership, according to an official statement Thursday. In six deepwater blocks including two in Andaman and Nicobar, ONGC will be working alone. The exploration major in consortia will be undertaking work in three onland and four deepwater, while in two onland blocks it has a tie-up with state-owned Oil India Ltd (OIL). Of the remainder, Britain's Cairn Energy has been awarded one onland block in Gujarat, Enpro Finance combine two onland blocks, Gujarat State Petroleum Corporation (GSPC) two blocks and Reliance led consortium one deepwater block in Mahanadi. Besides Reliance, which bagged only one block, some global majors like BG Group of Britain, Canada's Niko Resources and Russia's Zarubezneftgaz drew a blank. With the latest award of blocks, India has finalised 91 blocks in the four rounds of NELP in the last three years. Of these, 26 blocks are on land, 30 shallow water and 35 deepwater. "The total investment estimated in all three phases of exploration activities in the blocks awarded under all the four rounds of NELP is about 190.5 billion, included 50.01 billion worth estimated investment in the 21 blocks approved Wednesday under NELP-IV," the petroleum ministry stated. So far, various companies engaged in the exploration activities have invested about 30 billion till September 2003 in the pre-NELP exploration blocks and 29.80 billion in the exploration blocks awarded under NELP rounds, the statement added. India is preparing for the announcement of the next round of NELP blocks in March/April, which are expected to have very few deepwater blocks, according to petroleum ministry officials.
Source: IANS