Ongc-Led Consortium May Corner Maximum Blocks Under Nelp-Ii

Around nine oil and gas blocks under the second round of the Union government's New Exploration Licensing Policy (NELP-II) are learnt to have been recommended for award to ONGC-led consortium, while another six blocks are said to have gone to Reliance-Hardy consortium.

Under NELP II, 25 blocks were put for bidding in December 2000, out of which on the last day of bidding (on March 31, 2001), bids were received for 23 blocks.

Sources said that while two blocks have gone to Oil India-led consortium, Gujarat State Petroleum Corporation (GSPC) is learnt to have bagged one directly, while two oil and gas blocks it would be executing as non-operating partner in association with the ONGC-led consortium.

Canadian company Niko Resources, which is very active in Gujarat, is also reported to have got one of the block. Under the ONGC-led consortium, companies such as IOC, GSPC, GAIL, etc had bid for different blocks with varying participating interest and as non-operating partners.

The results of the bidding, which has already been approved by the empowered committee, is expected to be officially announced by the Union petroleum ministry shortly.

In the first round of bidding (NELP-I) a year back, out of the total 45 blocks announced, bids were received for only 26 blocks. Reliance-led consortium had then won the maximum awards, followed by ONGC. Now in this second round of bidding, the trend has reversed with ONGC-led consortium getting the maximum blocks followed by Reliance.