Business Daily from THE HINDU group of publications
Wednesday, Jul 16, 2008
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Business Daily from THE HINDU group of publications Wednesday, Jul 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Industry & Economy
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Coal Next round of bidding for coal bed methane blocks by Dec 
Significant co-operation: Mr Stedman Illias (left), Deputy Director-General, Department of Industry and Resources, Government of Western Australia, exchanging documents with Mr V.K. Sibal (extreme right), Director General, Directorate-General of Hydrocarbons, after signing an MoU in the presence of the Deputy Premier of Western Australia, Mr Eric Ripper, and the Minister for Petroleum and Natural Gas, Mr Murli Deora, in the Capital on Tuesday. Our Bureau New Delhi, July 15 The Government plans to put on offer more coal bed methane (CBM) blocks by December. The Director-General, Directorate-General of Hydrocarbons (DGH), Mr V K Sibal said, “we may invite bids for the fourth round of CBM blocks by end of the calendar year.” About 10 CBM blocks may be put on offer. Speaking to newspersons after signing a memorandum of understanding between the DGH and Department of Industry & Resources of Western Australia, Mr Sibal said that the eighth round of New Exploration Licensing Policy (NELP) would be launched in the second half of 2009-10. Open acreage system that allows firms to carve out areas they want to drill may come simultaneously with NELP VIII, he said. “For open acreage, we have to create a national data repository. You have to have data from all the blocks that have been drilled so far,” he said. Mr Sibal said that by end-December the Government would appoint a consultant for the data repository. The MoU with Western Australia aims at enhancing cooperation and understanding on oil and gas related issues and exchange information and pass on good practices in the development of policy on oil and gas exploration, production and field abandonment, and exchange of expertise. It also identifies broad areas of cooperation. These include aquifer depletion specific to the oil and gas sector, enhanced oil recovery, coal bed methane gas, education and training, joint research and development and any other areas that are mutually agreed upon by both parties. The two sides will seek to approve a programme of cooperation each year or such other jointly decided time period. The MoU is valid for 5 years and may be further extended with mutual consent. Mr Eric Ripper, Deputy Premier of Western Australia, met Mr Murli Deora, Minister of Petroleum and Natural Gas. They emphasised the need for taking forward the existing cooperation between India and Western Australia, in the oil & gas sector. They felt that there is a large potential for cooperation in various activities especially in exploration and production, coal bed methane, LNG, etc. The two leaders described the MoU signed today as a significant beginning in the cooperation between India and Western Australia. ONGC enters 1st gas sales pact for coal-bed methane News areas may be opened up for coal bed methane exploration ONGC may kick off Jharkhand coal-bed methane project soon ONGC to commission Rs 950-cr coal bed methane project soon More Stories on : Coal | Foreign Relations
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