)
Petroleum minister M Veerappa Moily today confirmed that state-run GAIL is bidding for deepwater blocks in Tanzania.
The transmission major, with hardly any expertise in exploration and production, is bidding for stakes in five deepwater exploration blocks in Tanzania.
According to reports, the company has already submitted bids to London-headquartered Ophir Energy to buy between atleast 30 per cent in five blocks.
When asked about this, Moily said, “I was informed that GAIL is looking for some blocks in Tanzania. But nothing is finalized.”
ONGC Videsh was also in race for seven blocks up for bidding in Tanzania. The company was also looking to partner Tanzania Petroleum Development Corporation (TPDC) for two deep-water blocks.
