(a) whether the Government has welcomed the foreign investors to come and join hands with India to exploit the hydrocarbon potential;
(b) if so, the details thereof; and
(c) the response received so far, country-wise?
(a) whether the Government has welcomed the foreign investors to come and join hands with India to exploit the hydrocarbon potential;
(b) if so, the details thereof; and
(c) the response received so far, country-wise?
MINISTER OF THE STATE IN THE MINISTRY OF PETROLEUM & NATURAL GAS (SHRI R.P.N.SINGH)
(a) and (b) Yes, Madam. Government of India formulated New Exploration Licensing Policy (NELP) during 1997 to provide
a level playing field to both public and private sector companies in exploration and exploitation of hydrocarbon resources
in the country. Under the NELP policy, any company, Private, Foreign or Public Sector Undertaking, can bid for the exploration blocks offered through International Competitive Bidding, with participating Interest (P.I), upto the
extent of 100%.
(c) Out of total 248 blocks awarded under NELP-I to NELP-IX rounds, a total of 39 blocks have been awarded to 14 Foreign companies as Operators. In addition, 19 Foreign companies are also non-operators as Consortium Partners in 44 NELP blocks. Details are annexed.