The seventh round of auction for oil and gas blocks under the New Exploration and Licencing Policy (NELP) is finally set to get underway next month."We are trying to start it in the next month. We can't, however, say at this point how many blocks would be offered," Deora told reporters on the sidelines of a function here.India has three million square kilometres of sedimentary basin. Out of this, about 43% is under exploration. The seventh round of bidding under NELP was supposed to start in April this year.Pursuing a 'systematic policy', the government had awarded 52 exploration blocks in February 2007 under the sixth round of NELP to various companies in India and abroad. With this, the total number of blocks offered in the six rounds went up to 162.Admitting that there was delay in offering the blocks in the seventh round, he said, "we want to start this very soon".It was reported earlier the government intended to offer more than 80 oil and gas blocks in the east and west coasts.Sources said the Director General of Hydrocarbons would start roadshows to attract foreign players for bidding soon. It is learnt that US majors Chevron, Exxon Mobil Corporation and Conoco-Phillips have so far not evinced interest in the bidding.The minister, however, said that the "response was better than on the previous occasions".
