Govt completes award of exploration blocks under NELP-IX

The government today announced award of the remaining oil and gas blocks for exploration to two consortiums led by Gail India Ltd and Deep Energy Ltd, respectively, even as rejected a bids for three blocks by Ishar Gasoil Pvt Ltd, a company with negative net worth.

The Cabinet Committee on Economic Affairs (CCEA), has decided to award exploration contracts for block RJ-ONN-2010/1 to a consortium of Gail (India) ltd, Bharat Petro Resources Limited (BPRL), BF Infrastructure Limited (BFIL) and Monnet Ispat and Energy Limited (MIEL).

It also decided to award block CB-ONN-2010/2 to a consortium of Deep Energy LLC (DEL), Deep Natural Resources Limited (DNRL) and Safal WSB Energy Private Limited (SWEPL).

The CCEA, which considered the submissions made by Ishar Gasoil Pvt, however, decided against awarding contract to the company and rejected its bid, taking in view the recommendations of the Directorate General of Hydrocarbons (DGH) as also of the Empowered Committee of Secretaries (ECS).

Bids of Ishar Gasoil Pvt Ltd for three blocks RJ-ONN-2010/1, GV-ONN-2012/1 and CB-ONN-2010/2 were rejected due to negative net worth of the company.

Since there were no other bidders for the block GV-ONN-2012/1, this block will not be awarded at all, the CCEA said in a release.