Expectations Low for Indian Licensing Round

摘要

India launched its ninth licensing round Friday — although response may be tepid, since nearly half the blocks on offer have al- ready been up for auction. While launching the latest round of the New Exploration Licensing Policy (NELP), Oil Minister Murli Deora said he was target- ing a minimum investment of $1 billion for the 34 exploration blocks. On offer are eight deepwater, seven shallow-water and 19 on- shore blocks. None have been offered in the prospective Krishna Godavari and Mahanadi basins, where Reliance Industries and state- controlled explorer Oil & Natural Gas Corp. (ONGC) made discoveries.