The Hindu Business Line : London roadshow drums up interest in NELP VI blocks

The showcase
The two-day London roadshowcomprised detailed presentations on the geological potential of the blocks, liberal fiscal and contract terms, the experience of working in the Indian E&P sector by leading international and national companies both private and public, and presentations by industry associations, merchant bankers and consultants.

New Delhi , March 28

The roadshow in London to promote the recently launched 55 oil and gas exploration blocks under the sixth round of the New Exploration Licensing Policy (NELP) has received good response with nearly 82 international companies participating.

An official statement from the Petroleum Ministry here on Tuesday said that in the one-on-one meetings with the visiting Indian delegation, leading exploration and production (E&P) companies gave positive indications of participating in the current Indian offer.

The Indian delegation led by Mr Murli Deora, Minister of Petroleum and Natural Gas, is currently in London for the roadshow showcasing the NELP-VI blocks. The participating companies included BP, Shell, Total, Statoil, Chevron, BG, Repsol, Cairn Energy, Woodside, Petrobras, Maersk, Devon, ENI, Burren, BHP, Ensearch, Goepetrol and Premier oil. As many as 38 prominent E&P companies were present.

The two-day London roadshow (March 27-28) comprised detailed presentations on the geological potential of the blocks, liberal fiscal and contract terms, the experience of working in the Indian E&P sector by leading international and national companies both private and public, and presentations by industry associations, merchant bankers and consultants. The next roadshow would be held in Houston (US) on March 30 for NELP-VI and on March 31 for coal-bed methane (CBM-III).

Following the success of NELP-V, the Government has announced the launch of NELP-VI offering 55 exploration blocks, which include 24 deepwater blocks, six shallow-water blocks and 25 onshore blocks. This offer covers the highest-ever acreage of 3.52 lakh sq km, nearly 12 per cent of the Indian sedimentary area.

In the meeting held with BG, the Petroleum Minister explained the vast opportunities in India's oil and gas sector particularly in this offer (NELP-VI). During the meeting BG mentioned that it was already in India and sought to expand its involvement in the E&P sector, and distribution and marketing of natural gas, including city gas distribution network. It also stated that ONGC and BG had already signed farm-out agreements for three deepwater blocks in the Krishna-Godavari basin.