January for NELP-VIII contracts

Vol 13, PW 12 (19 Nov 09) News in Brief
     

DGH officials are working overtime to ensure PSCs for the NELP-VIII and CBM-IV blocks are signed by January next year.

Oil secretary RS Pandey wants the PSCs signed before he retires on January 31, we hear. “DGH staff is evaluating hard copies of bids that were submitted by companies on October 12,â€‌ says an industry source.

“They are checking that everything is in order and will send their recommendations on the bids to the oil ministry sometime this week.â€‌ Once it gets the bid recommendations from the DGH, we hear, the ministry will carry out a â€کrandom’ verification, add its views and forward them to the Empowered Committee of Secretaries (ECS) for approval.

If necessary, the oil secretary will call companies for discussions with the ECS, and then send its recommendations to the cabinet, which will rubber stamp them. Bids were received for only 36 out of 70 blocks and eight out of 10 CBM blocks on offer in these rounds.