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OIL bags 8 more oil blocks

OIL bags 8 more oil blocks
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First Published: Tue, Feb 20 2007. 04 28 PM IST
Updated: Tue, Feb 20 2007. 04 28 PM IST
PTI
New Delhi: State-run Oil India Ltd has been awarded eight oil and gas exploration areas in the recently- concluded sixth round of auction under the New Exploration Licensing Policy (NELP).
“OIL will be the operator for six onshore blocks and non-operator in two deep water blocks,” the company said. A total of 52 exploration blocks were awarded in NELP-VI. Prior to NELP-VI, OIL was awarded 14 blocks in five rounds of NELP and was operator in six blocks.“With the award of NELP-VI blocks, OIL will have 22 blocks and will double its operatorship from 6 to 12 blocks under NELP,” it said.
In addition, OIL also has acquired participating interest in two exploration blocks in Yemen, one block in Nigeria and one block in Gabon in the recent past. The blocks awarded to OIL under NELP-VI as operator are MZ-ONN-2004/1 in Mizoram, AA-ONN-2004/1 and AA-ONN-2004/2 in Assam, RJ-ONN-2004/2 and RJ-ONN-2004/3 in Rajasthan and KG-ONN-2004/1 in Krishna Godavari basin.
It has non-operator minority stake in deep-sea blocks KG-DWN-2004/5 and KG-DWN-2004/6 in Krishna Godavari basin. “Some of these blocks are very prospective,” as per the release. The Production Sharing Contracts for the eight blocks are expected to be signed in March.
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First Published: Tue, Feb 20 2007. 04 28 PM IST