NELP-VII in November

The seventh round of auction of oil and gas blocks under the New Exploration and Licensing Policy (NELP) will be launched on November 5, with bidding starting the next day, a senior petroleum ministry official has said.

"Around 80-85 blocks are likely to be auctioned under NELP-VII. The roadshows will start immediately after the auction is announced on November 5," the official said. The roadshows will be held around the world.

The Directorate General of Hydrocarbons (DGH), the technical body for the country's exploration and production sector, has carved 80-85 blocks for this round.

The total acreage of the blocks on offer is about 0.4 million sq km. This round of auction has been postponed several times.

It was to start in March-April, but controversy over the pricing of gas from blocks under earlier NELP rounds and shortage of drilling rigs forced the government to defer it.