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Indian government announces 46 exploration blocks under NELP-X

13th January 2014

Oil ministry expects bidders to propose the oil and gas production volume they are willing to share with the government

Indian government announces 46 exploration blocks under NELP-X
The 46 exploration blocks include 17 onshore blocks and 29 offshore blocks

New Delhi has announced that 46 exploration blocks will go on auction under the tenth round of the New Exploration Licensing Policy (NELP-X), Business Standard reported on Sunday.

 

Oil minister M Veerappa Moily revealed that the blocks include 17 onshore blocks, 14 deepwater blocks and 15 shallow water blocks.

 

"We are today profiling 46 blocks but eventually 60 to 65 blocks will be offered after clearances are obtained," Business Standard quoted Moily as saying.

 

The news follows the announcement of the government’s plan to auction 56 exploration blocks under revised terms, whereby bidders will have to share part of their oil and gas production volume with the government.