Licensing Round Overview: NELP-VII Licensing Round India has an estimated sedimentary area of 3.14 million square kilometre, comprising 26 sedimentary basins, out of which, 1.35 million square kilometre area is in deepwater. At present 1.38 million square kilometre area is held under Petroleum Exploration Licenses in 18 basins by national oil companies’ viz. Oil & Natural Gas Corporation Limited (ONGC), OIL India Limited (OIL) and Private/Joint Venture companies. Before implementing the New Exploration Licensing Policy (NELP) in 1999, 11% of Indian sedimentary basins was under exploration, which has now increased significantly. In 1997, Government of India approved the New Exploration & Licensing Policy (NELP) and it became effective in February, 1999. Since then licenses for exploration are being awarded only through a competitive bidding system and National Oil Companies (NOCs) are required to compete on an equal footing with Indian and foreign companies to secure Petroleum Exploration Licences (PELs). Six rounds of bids have so far been invited under NELP, in which, 162 exploration blocks have been awarded more than 20 foreign companies have been awarded exploration blocks. Government of India is committed to offer exploration blocks in coming years and in the next five years, area under exploration for Indian sedimentary basins is expected to increase from 44% at present to 80%. By 2015, whole sedimentary basinal area is planned to be brought under exploration. The seventh round of NELP was declared open on 13 Dec 2007 with 57 blocks on offer out of which 19 are deep water blocks, 9 are shallow water blocks and 29 are onland blocks, Details can be referred in Notice Inviting Offer (NIO) for seventh round of NELP.
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