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ONGC bags six blocks in NELP-IX

Thursday, 29 Mar 2012
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ONGC has won six blocks that the Central Government awarded for oil and gas exploration under the ninth round of New Exploration Licensing Policy (NELP).

Of the total blocks, ONGC will be the operator for four blocks and will be minority partner for the other two. However, the government rejected bids for eight areas including five deep-sea blocks. Deep Energy, a subsidiary of US based Deep Industries, won three onshore areas and Sankalp Oil and Natural Resources three areas each. Focus Energy, Pratibha Oil and Natural Gas and Pan India Consultants got one on-land block each. Meanwhile, award of five on-land and two shallow water blocks to companies like Essar Oil, Deep Energy and Chinar Commerce was put-off due to bidders not meeting eligibility criteria.

The government had offered 34 areas - eight deepwater blocks, seven shallow water blocks, 11 on-land blocks, and eight Type-S (or small) on-land blocks, in NELP-IX. Of these, bids were received for 33 on close of auction in March 2011.

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