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ONGC combine may bag 12 blocks

Our Bureau

New Delhi , Nov. 22

The Oil and Natural Gas Corporation consortium seems to be emerging a winner under the sixth round of New Exploration Licensing Policy, closely followed by Reliance Industries Ltd.

According to sources, of 52 blocks under NELP-VI, in which 39 blocks attracted multiple bids and 13 received single bids, ONGC is emerging as a strong contender in the single bids category.

The ONGC consortium had bid for seven blocks out of 13 that had received single bids. Sources told Business Line that the evaluation system adopted for the NELP-VI has been very transparent and it was easy for the bidders to calculate how much marks each would be allocated out of 98, with two marks remaining discretionary.

ONGC had submitted 45 bids adopting a consortium approach and RIL had submitted 21 bids (20 solo and one with Oil India).

ONGC emergence as the strong contender, however, seems to be contrary to what the Directorate General of Hydrocarbons had proposed. According to sources, as per DGH recommendations, past performance of the companies was taken into consideration.

Indications are that while RIL is likely to get seven blocks in the deepwater category, the ONGC consortium is poised to get 12 blocks.

The Anil Ambani group, which had also bid through consortium approach, is likely to meet with success in shallow water. British Gas and British Petroleum are also likely to emerge as winners under the NELP.

The Empowered Committee of Secretaries is set to meet on Thursday to consider the winners of the blocks.

The NELP-VI, which offered 55 exploration and production blocks, attracted 165 bids from the global energy giants as well as the domestic majors. Three blocks, however, did not receive any bids.

Besides, having received bids for 21 deepwater blocks, bids have also been received for all the 12 frontier blocks.

More Stories on : Petroleum | Outlook | Oil & Natural Gas Corporation Ltd | Reliance Industries Ltd

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