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INDIAN ENERGY EXPLORATION OFFERING FAILS TO ATTRACT OIL MAJORS.

AsiaPulse News

| April 02, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW DELHI, April 2 Asia Pulse - India's second offering of 25 blocks for exploration of oil and gas under the New Exploration and Licensing Policy (NELP) has failed to enthuse global oil majors like British Gas, Royal Dutch Shell and Exxon-Mobile of US.

Out of the 25 blocks on offer, which include eight deep water blocks on west coast, nine onland and eight offshore blocks, only 22 blocks have enthused oil companies, for which about a dozen companies have evoked interest, the federal petroleum ministry officials said.

While Shell, ExxonMobile, British Gas, British Petroleum and Cairn Energy of UK and Hardy Exploration have stayed away from bidding, leading the race for the blocks are public sector Oil and Natural Gas Corporation (ONGC) and private sector ...

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