Indo American News • Friday,February 18, 2011
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Friday, February 18, 2011
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IndoAmerican News
STOCKS • FINANCE • SOUTH ASIAN MARKETS • TECHNOLOGY
India Holds NELP IX Roadshow in Houston for Oil & Gas Blocks
By Pramod Kulkarni HOUSTON: India’s Ministry of Petroleum and Natural Gas held a roadshow on Monday, Feb. 14 at the Intercontinental Hotel to invite international oil and gas companies in Houston to bid for exploration blocks in India. The roadshow was hosted by the Directorate General of Hydrocarbons and included representatives of Indian oil and gas companies: ONGC, Indian Oil, Reliance Industries and British Gas India. About 50 representatives of the local oil and gas companies and oilfield service companies attended the presentations. Consul General Sanjiv Arora wel-
comed the gathering and presentations about the New Economic Licensing Program (NELP IX) were made by Narasimha Raju, the Ministry’s joint secretary for exploration. Mr. Raju was followed by presentations by representatives of the leading oil and gas companies about their positive experiences operating in India under the NELP regime. Recent roadshows were held in Moscow, Perth and Calgary. Under NELP, India has made a series of oil and gas discoveries, including Reliance Industries’ prolific KG-D6 gas field in the Krishna Godavari basin offshore the east coast
of India and Cairn Energy’s Mangala oil field in Rajasthan. DGH has invited bids by March 18 for 34 exploration blocks, comprised of eight deepwater, seven shallowwater and 19 onland blocks. India expects investment commitments in the current round to exceed the $1.1 billion it received in 2009. India is yet to attract the attention of the major companies in these licensing rounds. One possibility is that the continuing difficulties in obtaining deepwater drilling permits in the Gulf of Mexico may encourage multinational companies such as ExxonMocontinued on page
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NELP IX roadshow took place in Perth, Australia (seen here), and Calgary prior to the presentation in Houston.
INDO AMERICAN NEWS • FRIDAY,february 18, 2011 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM