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ONGC Won 17 Blocks Awarded Under NELP Auction


Oil and Natural Gas Corporation (ONGC) on 30 June 2010 together with its partners signed contracts for half of the 34 oil and gas blocks that were awarded in the latest round of auction under the New Exploration Licensing Policy (NELP). Of the 70 blocks offered in NELP-VIII, only 36 blocks were bid for by the companies.

Oct 13, 2010 11:16 IST


Oil and Natural Gas Corporation (ONGC) on 30 June 2010 together with its partners signed contracts for half of the 34 oil and gas blocks that were awarded in the latest round of auction under the New Exploration Licensing Policy (NELP). Of the 70 blocks offered in NELP-VIII, only 36 blocks were bid for by the companies. ONGC and its partner won 17 areas out of the 25 blocks they bid for. 8 out of the 24 deep water blocks offered by the Indian government were bid for. ONGC and its partners won seven while Cairn Energy won one. 28 shallow water blocks received 13 bids where ONGC got five of them and also got one other block where Oil India Ltd (OIL) was the operator. 15 out of 18 on-land blocks received bids of which ONGC won four and the remaining went to companies like Oil India, NTPC, Esveegee Steel and Jubilant. ONGC in total won 17 blocks, 14 as operator and three as non-operator. ONGC’s other partners in deep water blocks are Gujarat State Petroleum Corp (GSPC), GAIL India, NTPC and Andhra Pradesh Gas Infrastructure Corp. Indian Oil Corp and Adani Welspun Exploration Ltd were the additional partners of ONGC in the bid for shallow water blocks.