Government to auction 57 oil and gas blocks under NELP-VII

Mumbai: The government will offer 57 new exploration blocks in the seventh round of auction under the New Exploration Licensing Policy (NELP) - its latest and largest yet sale of oil and gas assets.

The government will detail the assets on December 13.

These would include 19 deepwater blocks off the west and east coasts of India, along with 9 shallow water blocks and 29 inland. 

The seventh round of auctions under the NELP would also include one deepwater block in the Andaman Islands.

The government expects to attract global majors with the expertise to develop deepwater blocks, bids for which will close on April 11, oil minister Murli Deora said.

Award of contracts should be made by the end of July, he added.