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ONGC, Hindustan Petroleum Corporation, and Bharat Petro Resource Ltd (BPRL), are among the companies that signed production sharing contracts (PSCs) for four exploration blocks, under the ninth round of New Exploration Licensing Policy (NELP-IX).
Cabinet Committee decision
This follows the Cabinet Committee on Economic Affairs (CCEA) decision of August 23, approving the award of five blocks to the first ranked/single/next highest ranking bidder under NELP-IX, an official release said.
Out of the five blocks, PSCs were signed for four, the release said, adding that with this a total of 18 PSCs have been signed under NELP-IX. The winner for the fifth block, BHP Billiton, is expected to sign the contract later. It may be recalled that in March, the CCEA had approved allotment of 16 blocks and rejected bids for 11 blocks. Contracts were signed for 13 blocks.
For block MB-OSN-2010/2 in Mumbai offshore basin, PSC was signed by the partners Oil India Ltd (operator), Hindustan Petroleum Corporation Ltd , and Bharat Petro Resource Ltd.
For the AA-ONN-2010/1 (Assam-Arakan basin) block, the contracts were signed by Prize Petroleum Company Ltd and ABG Energy. While for CB-ONN-2010/8 (Cambay Basin), Bharat Petro Resources Ltd, GAIL (India) Ltd, Engineers India Ltd, BF Infrastructure Ltd and Monnet Ispat and Energy Ltd, signed the contract.
ONGC signed the PSC for CB-ONN-2010/9.
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