Nelp tweaked to draw Big Oil

Vital stats

* In Nelp VII, 9 blocks are in shallow water, 19 in deep-sea and 29 onland

* Bids close on April 11, 2008

* Under Nelp so far, 49 oil and gas discoveries have already been made in 162 blocks offered, adding 600 million tons of reserves

Nelp so far

Blocks offered

Blocks bid for

Bids received

Nelp I

48

28

45

Nelp II

25

23

44

Nelp III

27

24

52

Nelp IV

24

21

44

Nelp V

20

20

69

Nelp VI

55

52

165

Nelp VII

57

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In six rounds of Nelp, exploration commitments have been $8 bn. In Nelp VII exploration commitment is expected to be $3-3.5 bn

 "We are in talks with British Petroleum, British Gas, Petrobras and a few others for jointly bidding in Nelp VII. Something will materialise soon," said a senior official with Oil and Natural Gas Corporation (ONGC), which bagged the largest number of the 52 blocks that were awarded under Nelp VI.  Oil India Ltd (OIL) has already tied up with British Gas to bid under Nelp VII.  Petroleum Minister Murli Deora said that steel magnate LN Mittal was also interested in bidding in Nelp VII.  Europe