66 companies participate in NELP-VII road show at Houston

29 January 2008

Following its promotional road show in London on 24 January to attract global bidders to participate in the exploration blocks under the seventh round of the new exploration licensing policy (NELP-VII), the government of India's road show in Houston, Texas, attracted 66 companies.

Of the 66 companies, 32 were from the exploration and production sector (E&P), 18 were service providers, six investment companies / bankers.

Under NELP-VII, 57 blocks - 19 deepwater, nine shallow water and 29 inland blocks - will be opened to global bidders.

A high level delegation led by minister of state for petroleum and natural gas Dinsha Patel and secretary, ministry of petroleum and natural gas M S Srinivasan is currently in Houston to promote NELP-VII to prospective E&P companies and investors.

Patel highlighted features of the NELP-VII and urged the participants to enter into a long- term relationship by becoming part of India's growing petroleum sector and make up for lost opportunities in the previous rounds.

He pointed out that India was the fifth-largest consumer of energy in the world after China, Russia and Japan.