Oil Minister H S Puri has invited US oil companies to invest in the exploration and production (E&P) space in India, offering 26 blocks across nine basins covering 2.3 lakh sq km.

On an official visit to the US from October 6-11, Puri launched the ‘Mega Offshore OALP Bid Round-IX’ and ‘Special CBM Bid Round 2022’ in Houston (US).

“As a gesture of commitment of the government of India to E&P sector, the special Coal-bed Methane (CBM) round and offshore bid rounds in the oil and gas capital of the world (Houston) offering over 2.3 lakh sq km, after opening up over 1 million sq km of No Go areas recently, was launched by the Minister,” the Ministry of Petroleum & Natural Gas said in a statement.

The Oil Minister announced the offer of 26 blocks for E&P through International Competitive Bidding. Out of these blocks, 18 are carved out by the government, and the remaining eight result from f Expression of Interest (EoIs) received from potential investors, the Directorate General of Hydrocarbons (DGH) said.

The features of Offshore Bid Round (OALP Bid Round–IX) include 26 blocks spread over nine sedimentary basins, covering an area of 2,23,031.4 sq. km. Out of the total blocks on offer, 15 are in Ultra Deep-Water, eight are in Shallow Water and three are on land, it added.

The Ultra Deep-Water blocks cover an area of 1,59,439.82 sq. km, while the Shallow Water blocks cover an area of 59,925.27 sq. km and Onland blocks in an area of 3,666.33 sq. km. Spread over Category-I (11 Blocks) and Category-II (13 Blocks) and Category-III (2 Blocks) Basins, the DGH said.

The books are spread across the basins of Saurashtra, Mumbai Offshore, Cauvery, Krishna-Godavari, Mahanadi, Bengal-Purnea, Andaman-Nicobar, Cambay and the Assam Shelf.

India-US collaboration

Addressing a roundtable on “Opportunities in the India-US Strategic Partnership” at Houston, Puri said that 25 per cent of global energy demand growth in the next two decades will emanate out of India. 

India is undertaking major reforms to rationalise and incentivise E&P by reducing the no-go areas by 99 per cent, opening up around 1 million sq km, making good quality geological data available through the National Depository Registry etc., he added.

The roundtable was attended by more than 60 participants from 35 companies, including senior leadership from energy majors like Exxonmobil, Chevron, Chieniere, Lanzatech, Honeywell, BakerHughes, Emerson and Tellurian.

Puri also met top officials and CEOs from US oil firms, including Exxon Mobil, Tellurian and Schlumberger, on the sidelines to discuss investment opportunities in India.

“A very productive meeting with Dr John Ardill of @exxonmobil. Discussed way forward for Exxon’s participation in ’s E&P sector. Exxon has devoted 25% of its supercomputing power to analyse Indian geological data & is poised to use its expertise to discover oil & gas in India,” Puri tweeted.

He also met Tellurian President and CEO Octavio Simoes and exchanged notes on the evolving gas markets and opportunities for Indian oil marketing companies (OMCs) to invest in Tellurian’s (LNG) projects in the US.

“Met Olivier Le Peuch CEO-Schlumberger again after Adipec last year to discuss ways to further collaboration between Schlumberger & Indian E&P companies in areas of better analysis & marketing of Indian geological data apart from regular participation in oilfield services business,” Puri said in a tweet.

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