SHRI RAM NAIK LEADS A DELEGATION
FOR PROMOTING NELP-IV ABROAD
DELEGATION
TO STUDY US STRATEGIC RESERVES
Shri Ram Naik, Minister
of Petroleum & Natural Gas is leading a high level delegation
to hold road shows at London (UK), Calgary (Canada) and Houston
(USA) for promoting the blocks offered under fourth round of New
Exploration Licensing Policy (NELP-IV). While London is the global
financial centre, other cities are prominent hubs of the operation
of leading oil companies . Leaving India tonight, the delegation
will hold road shows at London (5-6 June), Calgary (9-10 June)
and Houston (11-12 June). During road shows Shri Naik would emphasize
the greatly improved prospects of discovering oil and gas in the
country in view of world’s largest gas discovery in Krishna-Godavari
basin last year, discovery of oil in Rajasthan and the finds in
Vasai (Western Offshore) and Cambay (Gujarat).
The delegation would
make presentations demonstrating the globally competitive fiscal
package offered under NELP, the changed investment climate wherein
decisions are taken in a time bound manner and the attractive
geological aspects of the blocks being offered under NELP-IV.
Government has invited global bids for 24 exploration blocks which
include 11 on-land blocks, 12 deepwater blocks and one shallow
water block . The on-land blocks are located in the States of
Assam (1), Bihar (1), Gujarat (3), Manipur (1), Nagaland (1),
Rajasthan (1), Tamil Nadu (2) and Tripura (1). The 12 deepwater
blocks are located on both East Coast (8) and West Coast (4) and
include for the first time 2 blocks in highly prospective Andaman
& Nicobar Islands offshore deep water. One shallow water block
is located on the East Coast.
Shri Ram Naik will
also visit the strategic reserves maintained by USA at Bryan Mount
near Houston on June 13 to study the aspects of developing and
maintaining the critical reserves of crude oil. The visit will
help India in planning and financing its own strategic reserves
in the country which Government plans to develop. Presently India
consumes about 105 million tonnes of petroleum products in a year.
Besides Shri Ram
Naik, the delegation comprises Shri B.K.Chaturvedi, Secretary,
OP&NG (Calgary & Houston), Shri M.S.Srinivasan, Addl.
Secretary, MOP&NG (London), Dr. Avinash Chnadra, DG (DGH)
and Shri J.M.Mauskar, Joint Secretary, MOP&NG.
