Biddings invited for 20 oil blocks

By Our Economy Bureau | 05 Jan 2005

New Delhi: The government on Tuesday put 20 oil and gas exploration blocks for bidding under the fifth round of new exploration licensing policy. The 20 blocks on offer include six deep-water, two shallow-water and 12 on-land blocks.

Addressing a press conference here petroleum and natural gas minister Mani Shankar Aiyar said, "Of the deep-water blocks, two each are on the east and west coast and two in the prospective Andaman area." The last date for bidding is May 31.

Aiyar said the fifth round had been launched in the backdrop of huge oil and gas discoveries made by Reliance Industries and Niko Resources Ltd in Krishna Godavari deepwater and Cairn Energy at Barmer in Rajasthan. To mount an effective promotional campaign, the government has engaged the services of marketing consultants, the consortium of IndigoPool and CWC Associates of the UK.