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India roadshow to market Nelp licences abroad

India roadshow to market Nelp licences abroad
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First Published: Fri, May 04 2007. 01 35 AM IST
Updated: Fri, May 04 2007. 01 35 AM IST
Houston: India will hold roadshows for offshore oil and gas exploration within the next two months, said an official with the petroleum and natural gas ministry. The licences, the seventh round offered under the country’s New Exploration Licensing Policy, or Nelp, will cover 70 blocks over about 3,00,000 sq. km, A.K. Jain, joint secretary of the ministry, told the Offshore Technology Conference in Houston.
The ministry is waiting for more seismic data, expected by the end of June, before starting the show, Jain said in an interview. “We’ll have more information to give people then.”
India plans to market the licences at roadshows in Houston, Calgary, London, Perth and Dubai, Jain said. The licences cover acreage primarily on the country’s west coast, in waters 90-100 metres deep, he said.
India is considering extending a deadline for oil companies to drill exploratory wells under its third and fourth licensing rounds because a shortage of rigs is delaying drilling plans, V.K. Sibal, director general of hydrocarbons, said in March. The two-year extension would give companies a total of seven years to drill.
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First Published: Fri, May 04 2007. 01 35 AM IST