More NELP-IX contracts

Vol 15, PW 21 (03 May 12) News in Brief

Expect six NELP-IX contracts to be signed this month, taking the total to 22.

Oil ministry officials are ready to forward the following awards this week to the Empowered Committee of Secretaries (ECS): Delhi-based Ishar Oil Gas is to get onshore Ganga Valley basin block GV-ONN-2010/1; onshore Cambay basin block CB-ONN-2010/2; and onshore Rajasthan block RJ-ONN-2010/1. A consortium of Prize Petroleum and ABG Energy will get onland Assam-Arakan basin block AA-ONN-2010/1.

Operator British Gas and 50% partner BHP Billiton have won shallow water block MD-OSN-2010/1, while a consortium of Oil India, Hindustan Petroleum and Bharat Petroleum will take MD-OSN-2010/2. After the ECS clears these awards, it will forward them to the PM-headed Cabinet Committee on Economic Affairs (CCEA) for final approval.

Of the 33 blocks which received bids on March 28, 2011, the DGH will not award 11 as it is dissatisfied with the profit petroleum offered by bidders.