NELP Road show successful in Dubai
Posted: 26 January 2005
Ministerial delegates from India recently concluded a road show, in Dubai , for highlighting investment opportunities in the fifth round of the New Exploration Licensing Policy (NELP – V). This fifth round offers 12 inland, 2 shallow water and 6 deepwater blocks in 12 prospective sedimentary basins for Exploration of Oil and Gas.
The deep-water blocks are spread in the Bay of Bengal (two each on the East coast and near Andamans) and the Konkan-Kerala offshore
M.S. Srinivasan, Additional Secretary, Ministry of Petroleum and Natural Gas, delivered the keynote speech at the road show. He said this was by far the most aggressive road show put up by India . The delegation also said that there were quite happy with the interest shown by companies in Dubai .
Srinivasan also said that private investors will now have ready access to all data regarding the blocks, online and through the six data rooms that were set up across the world. These digital data rooms are set up in association with Schlumberger.
Mani Shankar Aiyar, the Petroleum and Natural Gas minister in the road show in India, during Petrotech 2005 said that within two months of the bids closing May 31, the award of blocks would be announced and the contracts signed by Sep 30.
Assuring complete transparency and single-window clearance, he told prospective investors they would be able to get by January 2006 all the second stage clearances provided they submitted their remaining licences requirement at the time of signing the product sharing contracts in September.
Posted by Editor Pipeline Magazine
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