Gail (India) has roped in Arrow Energy
Ltd (AEL), an Australian energy explorer to jointly bid for the coal bed methane
(CBM) blocks offered in NELP VI.
Gail has signed an MoU with Arrow
Energy Ltd to form a joint venture to explore gas in Australia and India and
will jointly bid for the CBM blocks in the forthcoming NELP round.
As part of the MoU, GAIL is likely to
substantially invest in finding gas on Australian territory and will also help
the Australian company in marketing its gas in India.
The sixth round of NELP has 10 CBM
blocks on offer apart from 55 onshore and off shore blocks.
Also see:
NELP
VI, CBM III launched (23-Feb-06)