As part of the efforts to attract investment for exploration of oil and gas in India, Union Minister for Petroleum and Gas Ram Naik launched the New Exploration Licensing Policy IV road show in Perth on Thursday.
Twenty four blocks comprising 12 deepwater, 11 onland and 1 shallow water are on offer under the NELP IV, which has been launched in the backdrop of the recent huge deepwater gas discoveries made in the Krishna-Godavari basin on the east coast of India, Naik, who is leading a high-level delegation, said.
Emphasising the highly attractive opportunities being offered under the NELP-IV, Naik asked the companies to participate in the bidding process to enter into a long term beneficial relationship by becoming part of India's growing and vibrant petroleum sector.
The bid closing date for the NELP-IV is September 30, 2003.
Naik also said that India has launched the second round of the Coal Bed Methane exploration, offering nine blocks. India and Australia are the key players in CBM.
The bid closing date for CBM-II is October 15, 2003.
Welcoming delegates from 38 companies, who attended the roadshow, including BHP Billiton, Chevron Texaco and Japan Oil National Corporation, the Indian high commissioner to Australia R S Rathore said the cooperation between the two countries in the energy sector spanned over two centuries in coal, and over decades in the oil and gas sector.