The Indian government said on Monday that it will offer 57 oil and gas blocks for bidding in the seventh round of auctions under New Exploration Licensing Policy.
The bidding opens on December 13. Petroleum Minister Murli Deora said that the bidding may see steel baron Lakshmi N Mittal bid for the first time.
"We will announce NELP-VII on December 13,'' he told reporters here. Of the 57 blocks to be offered, nine are in shallow water, 19 in deep sea and 29 in onland. Most of the deepwater blocks would be in the western offshore. Bids are due on April 11, 20 08 and the awards would be decided by June.
"Mittal had a meeting with me on Saturday and he has expressed interest
in NELP. I think he will bid, mostly likely to tie-up with some companies,'' the Minister said.
Mittal is said to be keen on expanding rapidly in oil and gas space in India. He has a jo int venture with Oil and Natural Gas Corporation for acquiring oil properties abroad and is partnering Hindustan Petroleum Corp Ltd in its $5-billion Bhatinda refinery in Punjab and a proposed refinery-cum-petrochemical complex at Vizag in Andhra Pradesh .
Deora said the first roadshow for NELP-VII would be held in Mumbai on January 8 and the overseas promotional campaign would be kicked-off towards the end of January. Roadshows are planned at a number of places including Houston, Calgary, London and Pe rth.