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Our Bureau

New Delhi , April 25

The road show held in Dubai to project the investment opportunity offered by India for oil and gas exploration in 55 blocks under the sixth round of New Exploration Licensing Policy (NELP VI) was attended by 25 organisations.

According to an official release, a high-level delegation led by Mr Dinsha Patel, Minister of State for Petroleum & Natural Gas, showcased the investment opportunity available under NELP VI.

Representatives of E&P companies such as Russia-based Zarubezhneft (a subsidiary of Gazprom), Woodside, Dragon Oil Pty, Orient Petroleum, Oil Search, Crescent Petroleum, and Dalma Energy.

Dragon, Woodside and Zarubezhneft also held one-on-one meetings with the delegation and showed keen interest in NELP-VI, the release said. The road show was part of extensive promotional efforts undertaken by the Government to market NELP VI.

BG, ONGC and OIL, which are established players in India's E&P sector, shared their experience and success stories. They highlighted the excellent potential of hydrocarbons in Indian sedimentary basins, the release added.

Mr V.K. Sibal, Director-General, Directorate General of Hydrocarbons, made a presentation on the prospects in the 55 blocks on offer and also the availability of infrastructure and markets especially for gas marketing and distribution. He also mentioned that India has a huge refining capacity of about 2.6 million barrels per day as compared to its domestic oil production of about 0.68 million barrels per day and any increase in domestic oil production can be easily absorbed by the refineries.

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