Mr Jitin Prasada minister of state for petroleum and natural gas inaugurated the Investors’ meet for the eighth bid round of New Exploration Licensing Policy and fourth round of Coal Bed Methane Policy at Singapore on September 28th 2009.
The Investors meet was held after a series of promotional road shows organized by Government of India domestically and overseas, first at Mumbai on August 8th 2009, second at Houston on August 2009 20th, third at Calgary on August 24th 2009, fourth at London on September 8th 2009, fifth at Perth on September 22nd 2009 and sixth at Brisbane on September 24th 2009.
Mr Prasada delivered key note address at the Road-show to promote 70 exploration blocks under NELP and 10 blocks under CBM offered for global competitive bidding. The Minister invited exploration and production companies and prospective investors to avail of the highly attractive investment opportunities which are unparalleled in any other Bid Rounds and offered under NELP-VIII and CBM-IV.
Mr Prasada observed the enterprising spirit of people of Singapore and stated that he has high hopes from the investment bankers and financial community in Singapore to ensure thumping success of NELP-VIII and CBM-IV Bid rounds. He expressed the hope that the \investing community in Singapore would spread the message about significant opportunities in India’s E & P sector leading to investment which will in turn ensure energy security of our country.
He further stated that NELP VIII is being offered in the backdrop of 71 oil & gas discoveries which have already been made in 21 exploration blocks by accretion of in place hydrocarbon reserves of more than 600 Million Metric Tonne of Oil Equivalent. Total committed investment in NELP rounds for exploration so far is around 10 billion dollars and actual investment made is around 11.9 billion dollars. Mr Prasada informed the audience that the recent huge discoveries have significantly changed perception about the geological prospectivity of India’s Sedimentary Basins and this is a significant development which investors need to look at.
Some of the important E&P companies operating in India namely Oil & Natural Gas Corporation Limited, Reliance Industries Limited and Oil India Ltd made presentations to demonstrate their success stories in India’s E&P sector. They also gave an account of their perceptions of geology and hydrocarbon prospectivity in India. Directorate General of Hydrocarbons on behalf of Confederation of Indian Industry made a presentation about perception on India’s Business climate and investment opportunities.
Sourse From; www.steelguru.com
Tuesday, September 29, 2009
Investors meet in Singapore for NELP VIII and CBM IV
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