NELP-IX joke

Vol 15, PW 15 (09 Feb 12) News in Brief

And a bad one too according to Indian exploration companies! “What is the status of NELP-IX” questions an operator.

“When will the government sign the contracts” Sadly, the answer is no one really knows, not even the DGH, nearly a year after it received bids on March 28 last year. “Nothing has moved for nearly two months now,” says a frustrated DGH official.

“We were asked to collect additional information on the bids submitted by companies. That information is still pouring in.

So, it is unlikely things will change before your next issue comes out in a fortnight!” India’s high-powered Empowered Committee of Secretaries (ECS) has so far cleared the award of 20 of the 33 blocks, which received bids. As for the remaining 13, the DGH is still compiling information, including ‘net worth data’ on newcomers like Chinar Commerce and Ishar Gas Oil.

“Once all the companies submit new ‘net worth’ certificates we will present the bids to the ECS for approval,” we hear.