BG Exploration and Production India Ltd and BHP Billiton Petroleum (International Exploration) Pty Ltd today signed the production sharing contract (PSC) for the remaining block -- MB-DWN-2010/1 (Mumbai offshore) -- under the ninth round of New Exploration Licensing Round, according to an official release.

BG is the operator of the block.

On August 30, ONGC, Hindustan Petroleum Corporation, and Bharat Petro Resource Ltd were among the companies which signed PSCs for four exploration blocks under NELP-IX. Out of the five blocks, PSCs were singed for four then as the winners of fifth consortium could not reach.

This followed the Cabinet Committee on Economic Affairs decision of August 23, when the Cabinet had approved award of five blocks to the first ranked/single/next highest ranking bidder under NELP-IX.

With these five contracts concluded a total of 18 PSCs have been signed under NELP-IX.

It may be recalled that in March CCEA had approved allotment of 16 blocks and rejected bids for 11 blocks. Production sharing certificates were signed for 13 blocks.

(This article was published on September 10, 2012)
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