Phase-I of Nelp-VII gets $1.49 billion

The latest NELP-VII auction in Phase 1 received commitments amounting to $1.49 billion for 45 blocks, including $321.15 million for deep sea exploration, $598.255 million for exploration in shallow waters and $572.75 million for onland blocks, according to the Directorate General of Hydrocarbons (DGH).

There were bids for 45 out of the 57 blocks on offer. The investments committed for Phase II and III have not been divulged.

Seven out of the 12 deep water blocks will be awarded to the consortium of BHP Billiton and GVK Oil and Gas. Two blocks will go to the ONGC-GSPC consortia, while one block each will go to Cairn Energy, Reliance Industries-British Petroleum JV and ONGC-Oil India consortia.

Of the shallow water blocks, the consortia of ONGC, GSPC and HPCL-Mittal Energy emerged winners for two Krishna Godavari basin blocks.

ONGC-GSPC, Adani Welspun and Essar-Nobel won one shallow water offshore block each.

Indian Oil Corporation, Omkar Natural Resources, Vasundhara Resources, EnSearch Petroleum, GAIL and Quest Petroleum were the winners for onland blocks.

The DGH had recommended ONGC and its partners for 11 onland blocks, and the consortia of OIL, HOEC and HPCL- Mittal Energy for the Rajasthan block.

ONGC and partners bagged the maximum number of oil and gas exploration blocks offered by India in its largest ever international bid round that closed on June 30. First timers BHP Billiton and GVK Power emerged winners in seven deep sea blocks. Reliance Industries forged an alliance with British Petroleum, but could manage only one Krishna-Godavari basin block.

Of the 57a areas offered in the seventh round of bidding under the New Exploration Licensing Policy, seven deep-sea, two shallow water and three onland blocks did not receive any bids.