ONGC and partners get 20 oil and gas blocks in NELP-VII auction
03 July 2008
Mumbai: Oil and Natural Gas Corp (ONGC) and partners have bagged the largest number of oil and gas exploration blocks offered in the seventh round of bids under the government's New Exploration Policy, its largest ever.
ONGC and its partners bagged 20 blocks, while the BHP Billiton-GVK Power consortium secured seven deep-sea blocks after bid evaluation on 30 June.
It was the leader of consortium that bagged three deep-sea, five shallow water and seven onland blocks and junior partner in an onland block that was led by Gujarat State Petroleum Corporation (GSPC).
Reliance Industries-British Petroleum combine could manage only one Krishna Godavari basin block while Cairn India won one deep-sea block.
Adani Welspun and Essar-Noble combine got one shallow water block each.
The joint venture of Hidustan Petroleum and steel baron Lakhsmi N Mittal, HPCL-Mittal Energy was part of a consortium led by ONGC in two shallow water blocks. It was also part of consortium led by Oil India that got Cambay basin onland block.
Among inland blocks, ONGC on its own got four blocks while Indian Oil Corp got two blocks.
Of the 57 areas offered in the seventh round of bidding under NELP-VII, seven deepsea, two shallow water and three onland did not receive any bid. GAIL India along with GPSC got a Cauvery basin onland block.