India may attract $5 bn in Nelp-8: oil regulator

India may attract $5 bn in Nelp-8: oil regulator
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First Published: Tue, Sep 29 2009. 12 16 AM IST
Updated: Tue, Sep 29 2009. 12 16 AM IST
Singapore: India may attract as much as $5 billion in work commitments under the New Exploration Licensing Policy VIII, or Nelp-8—the country’s largest auction of oil and gas areas—as explorers such as BP Plc, BG Group Plc and Santos Ltd seek new deposits, a government official said.
Explorers may bid for about 90% of the 70 areas offered in the eighth exploration round compared with 45 of the 57 blocks offered in the previous round, V.K. Sibal, India’s oil regulator, said in an interview on Monday.
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First Published: Tue, Sep 29 2009. 12 16 AM IST
More Topics: Exploration | Oil | Gas | Energy | Nelp |