The government would finalise the award of oil and gas blocks in the eighth round of the New Exploration Licensing Policy (Nelp-VIII) by the middle of December, Petroleum Minister Murli Deora today said at a road show organised by Nelp in London.
“We expect to finalise the awards by middle of December and signing of production-sharing contracts is expected to take another two months. Thus, within four months from receipt of bids (October 12), we promise to complete the process of award,” he said.
The eighth round is offering 70 oil and gas blocks covering an area of 170,000 sq km. This is the highest number of blocks to be offered in any round. Along with 70 oil and gas blocks, the government is also offering 10 blocks under the fourth round of the coal-bed methane gas exploration policy.
