India's holds global road shows for fresh hydrocarbon auctions

Friday, 28 August 2009, 11:15 Hrs
Printer Print Email Email
New Delhi: With successful road shows in North America, Minister of State for Petroleum Jitin Prasada Friday hoped to see more foreign companies participating in the latest round of auctions for India's hydrocarbon assets.

Prasada held road shows in Calgary in Canada and Houston in the US this month to generate interest in the eighth round of auctions of oil and gas blocks and fourth round of inviting bids for coalbed methane.

Over two dozen foreign exploration and production companies took part in the two road shows including British Gas, British Petroleum, Shell, BHP Billiton, Gaz de France, Gazprom and Niko Resources.

"The government is committed to complete evaluation, award and signing of production sharing contracts in a reasonable time frame and the whole process would be completed in a transparent manner," said a statement issued by the petroleum ministry.

As per the statement, Prasada hoped that foreign companies would take the advantage of the attractive investment opportunities offered in the latest round of auctions.

The next scheduled road shows will be in London, Perth and Brisbane, with Oct 12 being the last date for receiving bids.
Source: IANS
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..