Not just NELP-III but NELP-IV as well

Vol 5, PW 13 (15 Aug 01) News in Brief

Get ready to bid not just in NELP-III but also in NELP-IV! A policy paper on the upstream hydrocarbon sector to be made public on 15th August (India's independence day) said the phase one and two work programmes of both these rounds "is likely to be implemented in the 10th Five Year Plan period" between 2002-07.

The best part, however, will come subsequently when "available acreage would be considered for offer under a new open acreage system", with exploration blocks open for bidding all round the year. For NELP-I, the ministry expects a total expenditure of about Rs1,100cr ($247m) and for NELP-II expenditure of Rs1,350cr ($288m) during the "first phase" of exploration.