Australia invites bids from India for 36 blocks

Vol 10, PW 6 (13 Jul 06) News in Brief

Australia is clearly impressed by the spending power of Indian companies looking for acreage abroad.

On 13th July, Australian upstream authorities launched a two-day roadshow, their second in India, at the Taj Mahal Hotel in Delhi to encourage Indian companies to invest in the countrys oil and gas industry. On offer are 36 offshore blocks in Australian territorial waters and within the limits of Australias Exclusive Economic Zone.

There is a lot of interest from Indian companies, reveals an official from the Australian High Commission. Seventy delegates from 50 companies confirmed their attendance and we are expecting more.

Jubilant Enpro, Reliance Energy, Tata Petrodyne, NTPC, Hardy Oil, Hindustan Petroleum, Sun Group and Oil India were among the first to walk in when the roadshow opened after lunch. Australia held a similar roadshow in Delhi on 19th September last year, with mixed results.