Antara News : India`s state-run ONGC bags 17 oil and gas blocks in India auction

India`s state-run ONGC bags 17 oil and gas blocks in India auction

Mon, March 22 2010 17:39 | 386 Views

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New Delhi (ANTARA News/Asia Pulse) - India's government-run Oil and Natural Gas Corp and partners on Friday walked away with more than half of the 33 oil and gas blocks awarded to successful bidders of the recently concluded eighth round of auction under India's New Exploration Licensing Policy (NELP).

The Cabinet Committee on Economic Affairs (CCEA) approved award of 33 out of the 36 exploration areas that were bid in the latest NELP round that closed on October 12, Home Minister P Chidambaram told reporters.

Of the 70 blocks offered in NELP-VIII, only 36 attracted bids with ONGC and partners bidding for a maximum of 25. The state-owned firm and its partner won 17 areas.

Source:
Business in Asia Today - March.22, 2010
published by Asia Pulse

Editor: Ricka
COPYRIGHT © 2012

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