NELP-VII: 45 blocks to be awarded
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26/09/2008
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Hindu (New Delhi)
NEW DELHI: The Union Petroleum and Natural Gas Ministry is likely to award 45 blocks for exploration of oil and gas in the next few days after a Committee of Secretaries finalised its report and sent the recommendations for approval to the Union Cabinet.
Petroleum Secretary R. S. Pandey said the Committee of Secretaries had met on Wednesday to decide on the winners of the 45 blocks offered under the seventh bid round of New Exploration Licensing Policy (NELP) and its recommendations would now go to the Cabinet for approval. He said domestic crude oil production had been stagnant at about 33 million tonnes for the past 10 years. It was a matter of concern as demand was rising manifold. India