India seeks bids in eighth NELP licensing round

摘要

India has invited operators to bid for 70 exploration blocks covering 163,535 sq km under its eighth New Exploration Licensing Policy (NELP 8) round. India has 24 deepwater blocks, 28 shallow-water blocks, and 18 onshore blocks on offer. Oil Secretary RS Pandey said it was better to proceed with the licensing round amid the global economic slowdown to generate activity. He added, however, that if there were little interest, India may hold onto the blocks. If there is sufficient interest, another 30-40 blocks would be offered in the next phase. Exploration and petroleum production events in several additional countries are also discussed.