Mumbai—India’s Cabinet Committee on Eco-nomic Affairs March 23 awarded 16 explora-tion blocks out of the 33 blocks that receivedbids under the country’s ninth New Explora-tion and Licensing policy round a year ago,the government said in a statement.The oil ministry received 74 bids for 33out of the 34 blocks offered under NELP IX.The committee did not award 10 blocks asthe companies offered less than 15% of profitpetroleum to the government. Five blocks werenot awarded as the bids did not fulfill certainconditions, and there was no mention of theother two blocks in the statement.
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