Shares of eight offshore oil services providers rose by 2.60% to 18.33% at 14:28 IST on BSE on reports that the oil ministry plans to kick-start the tenth round of New Exploration and Licensing Policy in January 2014.
Aban Offshore (up 18.33%), Dolphin Offshore Enterprises India (up 17.31%), GOL Offshore (up 15.23%), Jindal Drilling Industries (up 10.57%), Global Offshore Services (up 7.36%), Deep Industries (up 6.48%), Shiv Vani Oil & Gas Exploration Services (up 4.98%) and SEAMEC (up 2.60%), edged higher.
The S&P BSE Sensex was up 334.54 points, or 1.65% at 20,551.93.
According to media reports, the government will launch the auction of the next round of oil and gas blocks under New Exploration Licensing Policy (NELP) in January 2014 as it looks to attract foreign investors to boost domestic production.
Directorate General of Hydrocarbons (DGH) has carved out about 86 blocks, for which necessary clearances are being taken from the ministries concerned, reports suggest. During the previous nine rounds, the ministry awarded 254 blocks for exploration of oil and gas.
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