ONGC wins most blocks in hydrocarbon auction

October 12th, 2009 NEW DELHI - The response for the latest round of auction for handing over hydrocarbon assets in India for exploration and development has been "poor", with even Reliance Industries refraining from making a single bid. The deadline for receiving bids for the eighth round of auction under what is called the new exploration licensing policy, was noon Monday.

October 12th, 2009 NEW DELHI - India received bids for just 36 hydrocarbon blocks out of 70 on offer under the new round of auction, which the oil ministry admitted as being a "poor" response, with even Reliance Industries abstaining from a single bid. The deadline for receiving bids for the eighth round of auction for oil and gas assets under what is called the new exploration licensing policy was noon Monday.

October 1st, 2009 NEW DELHI - The public spat and litigation between the Ambani brothers could adversely affect the sentiments of foreign companies interested in investing in India's oil and gas exploration, the sectoral regulator said Thursday. India is currently inviting bids for the latest round of auction of its hydrocarbon assets, where it is offering 70 blocks.

September 8th, 2009 NEW DELHI - India will finalise exploration blocks in the eighth round of auction of hydrocarbon assets by December, Petroleum and Natural Minister Murli Deora said Tuesday. The minister was speaking at a roadshow in London where he has gone for a promotion campaign to attract foreign investors to the annual auction of oil, gas and coal-bed methane blocks.

September 1st, 2009 NEW DELHI - From an annual auction of its hydrocarbon blocks, India is moving towards a year-long bidding process, said Minister of State for Petroleum and Natural Gas Jitin Prasada here Tuesday. The government of India is moving gradually but inexorably towards the Open Acreage Licensing System from the current New Exploration Licensing Policy, Prasada said at the inauguration of an international conference on National Data Repository (NDR).

August 3rd, 2009 MUMBAI - Construction and engineering major Larsen and Toubro (L&T), Monday said it has bagged two offshore contracts from upstream major Oil and Natural Gas Corp (ONGC) worth Rs.5,300 crore ($1.18 billion). The projects have to be completed within 33 months, the company said in a regulatory statement.

August 2nd, 2009 KOCHI - It will take at least 100 days to confirm whether there is hydrocarbon presence off Kochi coast, Oil and Natural Gas Corp (ONGC) chairman R.S. Sharma has Sunday.

July 7th, 2009 NEW DELHI - India will resume road shows for its latest round of auction of hydrocarbon assets, with the finance minister announcing in the union budget that tax holiday would be extended to natural gas production. Now that this clarity is there, the road show will go ahead and we expect good response on this account, Petroleum Secretary R.S.

July 6th, 2009 NEW DELHI - In a bid to give a fillip to the current round of auction of hydrocarbon assets, Finance Minister Pranab Mukherjee Monday extended the tax exemption on profits in the natural gas sector. The ministry of petroleum and natural gas has been seeking tax holiday to the natural gas sector since last year, when the 2008 auction deadline had been postponed many times due to confusion over this issue.

April 9th, 2009 NEW DELHI - 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.

April 9th, 2009 NEW DELHI - 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.

March 10th, 2009 SURAT - Oil and Natural Gas Corp (ONGC) will soon start drilling three exploration wells at a depth of 2,500 to 4,500 metres in the Gulf of Khambhat off northwest Gujarat, officials said. The company has got the clearance from the ministry of environment and forests Feb 22 to start drilling the wells in the CB-ONN-2004/1/2 blocks, they said.

January 13th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp (ONGC) will take a decision on exploration of hydrocarbon assets in a block offered by the Sri Lankan government within a month, the oil minister of the island nation said here Wednesday. Sri Lanka had in 2007 offered ONGC a hydrocarbon block in Mannar Basin for exploration.

January 5th, 2009 AGARTALA - India's premier hydrocarbons exploration company, Oil and Natural Gas Corp (ONGC), has undertaken a Rs.43.76-billion project in Tripura to boost gas output, the company said here Tuesday. 'The investment proposal has been approved to produce and supply six million cubic metres gas per day from the state's gasfields,' ONGC executive director Biplab Guha told reporters.

January 2nd, 2009 NEW DELHI - Defending the acquisition of Imperial Energy, the state-run oil producer Oil and Natural Gas Corp (ONGC) has said the British energy major's potential was 'very good'. ONGC recently managed to get approval from 97 percent of the shareholders of Imperial Energy for its offer for acquisition at $1.89 billion (or 12.50 pounds per share).