The Cabinet Committee on Economic Affairs (CCEA) gave its nod for 16 of the 33 oil and gas blocks that were bid for in the ninth round of auctions.
The CCEA also cancelled two blocks offered under the eighth round of New Exploration Licensing Policy (NELP), an official release said. The bids for 16 blocks under NELP-IX were recommended by the Empowered Committee of Secretaries (ECS). The release said that the ECS recommended rejection of bids for 10 blocks due to less than 15 per cent of profit petroleum offered to the Government, an official release said.
Those which were rejected for non-fulfilment of notice inviting offers (NIO) conditions include bids by consortium of Deep Energy, LLC and KGN Oil & Gas Private Ltd for the block CB-ONN-2010/1, Chinar Commerce Pvt Ltd for the blocks CB-ONN-2010/6, and CB-ONN-2010/7.
Besides, as no other bid was submitted for the block CB-ONN-2010/7, the block was not awarded. Bid of Essar Oil Ltd for the block CB-ONN-2010/11 was also rejected.
The CCEA also cancelled two blocks – block KK-OSN-2009/4 awarded to Consortium of Omkar Natural Resources Pvt Ltd (ONRPL)-Munros Energy Pvt Ltd (MEPL)-Neris Energy Pvt Ltd (NEPL) and block KK-OSN-2009/5 awarded to Consortium of Omkar Natural Resources Pvt Ltd (ONRPL)-Sublime Energy Pvt Ltd (SEPL)-Neris Energy Pvt Ltd (NEPL) – under the eighth round of NELP.
Ninth bid round was launched in October 2010 offering 34 blocks.
The offered blocks included eight deepwater blocks, seven shallow water blocks and 19 onland blocks (including 8 Type-S blocks or small size blocks).
Chennai Metro
Meanwhile, the Union Cabinet on Friday approved the transfer of land in Tamil Nadu belonging to the Ministry of Mines to Chennai Metro Rail Project. The land, at inner Ring Road, Kathipara Junction, Chennai, measures 2,633 sq. metres belonging to the Geological Survey of India , Ministry of Mines, will be transferred to Chennai Metro Rail.