India announces largest ever auction of hydrocarbon assetsApril 9th, 2009 - 1:23 pm ICT by IANS
New Delhi, April 9 (IANS) India Thursday announced the auctions for 80 more hydrocarbon assets in the country, including 10 for coal-bed methane, in the largest such exercise under its new policy on oil and gas exploration.
The 70 oil and gas blocks under round number eight of the new policy include 24 in deep waters, 28 in shallow waters and 18 on-land blocks, Petroleum Secretary R.S. Pandey told reporters here. For coal-bed methane, this is the fourth round of auctions.
The bids from both domestic companies and multinational corporations will be accepted till Aug 10.
So far, 212 blocks have been offered under the seven rounds of what is technically called the new exploration licensing policy.
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- India drafting new regime to auction hydrocarbon assets: Secretary (Interview) - Feb 17, 2010
- Petroleum ministry launches new exploration licensing policy - Apr 09, 2009
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Tags: assets, auction, auctions, coal bed methane, deep waters, exercise, hydrocarbon, India, land blocks, multinational corporations, New Delhi, number eight, oil and gas, oil and gas exploration, petroleum, shallow waters