NELP-VII to cover 80 oil, gas blocks

The petroleum ministry is planning to offer 80 oil and gas blocks in the seventh round of auctions under the New Exploration Licensing Policy (NELP), in mid-August this year.

"We are still finalising the number of on-land and offshore blocks. Most likely, it is going to be 50:50," V K Sibal, Director General, Directorate General of Hydrocarbons, told reporters today. He said the blocks that would be offered in this round would mostly be off the western coast of India.

The NELP was launched in 1999 and the proposed auction would be the largest single round. In the previous six rounds, the ministry has awarded 162 oil and gas blocks.

In February, under NELP-VI, the ministry allotted 52 blocks, of which 21 deep-water blocks were awarded to the Oil and Natural Gas Corporation (ONGC), a public sector company.