India announces largest ever auction of hydrocarbon assets

April 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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