The consortium had submitted bids for the blocks on Monday as part of the Seventh Round of New Exploration Licensing Policy (NELP-VII), launched by the Ministry of Petroleum and Natural Gas, Government of India.
GVK Oil and Gas Limited, a subsidiary of GVK Power and Infrastructure Limited (GVKPIL), is the lead partner in the consortium.
BHP Billiton brings to the partnership its expertise in crude oil, condensation, liquefied petroleum gases, natural gas and liquified natural gas.
It has major oil and gas exploration and production assets in Algeria, Australia, Pakistan, Trinidad and Tobago, United Kingdom and the United States.
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G V Krishna Reddy, Chairman, GVK Power and Infrastructure Limited said, "this marks GVK's foray into the oil and gas sector. We are happy to partner with BHP Billiton who are global leaders in oil and gas exploration to bid for the seven deepwater blocks. We see the NELP as a good opportunity in meeting India's growing energy requirements".
The NELP-VII was launched by the Government of India on December 13, 2007.