The government today signed production sharing contracts (PSCs) with winners of the 52 oil and gas blocks auctioned under the sixth round of new exploration licensing policy (NELP-VI).Oil and Natural Gas Corp (ONGC) signed PSCs for 24 blocks - 12 deep sea, two shallow water offshore and 10 onland. It is also a minority partner with Cairn Energy of UK in one shallow offshore block.Mukesh Ambani-run Reliance Industries signed PSCs for seven prime deep sea blocks, while Santos of Australia inked the pact for two deep sea blocks. Oil India signed agreements for six onland blocks, while Gujarat State Petroleum Corp (GSPC) did the same for three blocks."A total of 110 blocks were awarded in the past five rounds of bidding under NELP since 2000. These have resulted in 32 discoveries of oil and gas establishing in-place reserves of 400 million tonne of oil and oil equivalent gas," Petroleum Minister Murli Deora said at the signing ceremony.While an investment of at least $5 billion has been committed for NELP-VI blocks, the government plans to launch the seventh round, with the highest number of blocks on offer ever - 70 to 100 - by April 2007 to increase domestic production.
