Selling Indian acreage on the internet

Vol 4, PW 15 (30 Aug 00) News in Brief

India's oil ministry is working on plans to market the country's acreage on the internet.

A source in the oil ministry tells Petrowatch the internet-based approach would not be ready in time for NELP-2 but could be used for NELP-3. The plan envisages a system where interested oil companies could view samples of seismic data on aweb page.

The idea is that if a company likes what it sees in the sample, it could purchase the full package directly on the net. Ministry officials say the main benefit of an internet approach is to save time.

It is believed this would be a big attraction for foreign oil companies.