The NELP VII auction in Phase 1 has received commitments amounting to $1.49 billion for 45 blocks, including $321.15 million for deep sea exploration, $598.255 million for exploration in shallow waters and $572.75 million for onland blocks.

There were bids for 45 out of the 57 blocks on offer. The investments committed for Phase II and III have not been divulged. Seven out of the 12 deep water blocks will be awarded to the consortium of BHP Billiton and GVK Oil & Gas. Two blocks will go to the ONGC-GSPC consortia, while one block each will go to Cairn Energy, Reliance Industries-British Petroleum JV and ONGC-Oil India consortia.

Of the shallow water blocks, the consortia of ONGC, GSPC and HPCL-Mittal Energy emerged winners for two Krishna Godavari basin blocks. ONGC-GSPC, Adani Welspun and Essar-Nobel won one shallow water offshore block each.

Indian Oil Corporation, Omkar Natural Resources, Vasundhara Resources, EnSearch Petroleum, GAIL and Quest Petroleum were the winners for onland blocks.

Also See:

Final recommendations ready for awarding oil, gas blocks under NELP VII (05-Aug-08)