| Updated at 1600 hrs: With an expected investment of $8-10 billion, the sixth round of auction of blocks for exploration of oil and gas - dubbed NELP VI - could be termed successful. This investment is substantially more than the $6 billion that has so far come into the country from the five earlier rounds. Indian and foreign companies bid individually and as partners for the 55 blocks on offer. Of these, the 24 high-risk deepwater blocks received 52 bids from energy majors like ONGC, Reliance Industries, BP Exploration, Gujarat State Petroleum Corporation and Cairn Energy. These are the blocks that will require the largest investments. "NELP VI will lead India into joining the league of nations that will have one of the most extensive deep-sea exploration programmes undertaken by some of the world |
Top Section
Explore Business Standard