Local firms dominate India's oil, gas blocks auction

Antelopus Selan Energy

02/05/2018 13:56

NEW DELHI, May 2 (Reuters) - 
    * India on Wednesday received 110 bids from local companies
for 55
oil and gas exploration blocks put up for auction under new
rules - Directorate General of Hydrocarbons (DGH)
    * Global oil majors did not submit bids in the latest
auction 
    * India had offered 46 onshore and 9 offshore blocks
covering
60,000 square kilometres in the latest auction- DGH
    * Most bids were submitted by state-run companies such as
Oil and
Natural Gas Corp  ONGC.NS , Oil India Ltd  OILI.NS , Indian Oil
Corp  IOC.NS , GAIL (India) Ltd  GAIL.NS  and Bharat Petro
Resources Ltd
    * Private sector bidders include Vedanta Ltd  VDAN.NS ,
Hindustan
Oil Exploration Co  HOEX.NS  and Selan Exploration Technology
Ltd  SELA.NS 
    * India wants to award blocks by June to expedite
exploration -
DGH 
    * India had launched the licensing round in January 
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 (Reporting by Nidhi Verma; Editing by Amrutha Gayathri)
 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters
Messaging: nidhi.verma.thomsonreuters.com@reuters.net))