Home / Knowledge / News / Textiles / 7th round of NELP-VII inaugurated in Mumbai
7th round of NELP-VII inaugurated in Mumbai
09
Jan '08
Shri Murli Deora, Hon'ble Minister of Petroleum and Natural Gas inaugurated the first Road Show of seventh round of New Exploration Licensing Policy (NELP-VII) at Mumbai on 8th January, 2008.

He invited exploration and production companies and prospective investors to avail of the highly attractive investment opportunities being offered under NELP-VII.

Shri Deora delivered a key note address at the first ever Road Show held in Mumbai under NELP regime, to promote the highly prospective 57 exploration blocks offered for global competitive bidding.

Shri Deora stated that NELP-VII is being offered in the backdrop of 49 oil & gas discoveries which have already been made in 15 exploration blocks by accretion of in place hydrocarbon reserves of more than 600 Million Metric Tonne of oil equivalent.

Under NELP regime, natural gas production in KG basin is likely to commence from July, 2008 at the rate of 40 MMSCMD with peak production of 80 MMSCMD.

Other discoveries of ONGC and GSPC are also likely to come into production establishing the deepwater expertise of Indian companies.

It was also highlighted that every fifth block under first three rounds of NELP has proven to be oil & gas bearing, as against world average of one out of 10 blocks.

As exploration work is progressing, results of later round of NELP blocks in terms of more oil & gas discoveries will be available.

Shri Deora informed that to leverage the recent huge discoveries, which have significantly changed perceptions about the geological prospectivity of India's sedimentary basins, Government of India would undertake an effective promotional programme to highlight the attractive investment opportunities available under NELP-VII to prospective investors and to bring home to global investors the advantages that India offers under NELP as well as information on the exciting new development in E&P Sector.

Shri M.S. Srinivasan, Secretary (Petroleum & Natural Gas) explained the salient features of NELP-VII highlighting the fact that bidding for fiscal parameter has been simplified as profit petroleum bid was being sought only at the lowest and the highest pre-tax investment multiple tranches.

The profit petroleum share in between these two extremes would be calculated on a linear scale with a positive slope. Joint Secretary (Exploration), Ministry of Petroleum and Natural Gas made a presentation on the highly attractive fiscal and contractual terms offered by the Govt. of India under NELP-VII. Director General, DGH made a presentation on the geology and hydrocarbon prospectivity of the 57 blocks on offer.

Some of the important E&P companies operating in India namely ONGC, BG, RIL and Cairn Energy made a presentation to demonstrate their success stories in India's E&P Sector. They also brought out the geological highlights and hydrocarbon prospectivity in India.


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search