RNCOS Research: Government Initiates NELP-V to Attract Foreign Bidders

(PRWEB) June 20, 2006

RNCOS Research: (http://www.rncos.com/Report/IM038.htm) As per a survey India has the smallest oil & gas reserves in the world with just 10 billion barrels oil equivalent (BBOE). Owing to rapid economic growth and appreciable foreign investment policies, India has been able to lure significant oil & gas investments. With high global demand for oil and rising prices, countries are showing interest in exploring new oil & gas fields.

As policies were articulated in the fifth round of New Exploration Licensing Policy (NELP) many international companies have shown interest to come to India to drill the largely unexplored areas of gas & oil.

The NELP has enabled to open 48 exploration blocks of which 10 are on land and 38 off shore, including 12 deep-water blocks. In addition, companies undertaking exploration in deep waters and frontier areas will be facilitated with fiscal concessions for a period of seven years.

In a recent market research report, Indian Oil & Gas Industry: An Industry Analysis published by RNCOS, analysts believe that there are high expectations from NELP-V in the form of greater participation form existing players as also it would be successful in luring new companies.

RNOCS has compiled in its report some facts about Indias oil & gas sector, which would attract large foreign direct investment. These are

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RNCOS Research: Government Initiates NELP-V to Attract Foreign Bidders

(PRWEB) June 20, 2006

RNCOS Research: (http://www.rncos.com/Report/IM038.htm) As per a survey India has the smallest oil & gas reserves in the world with just 10 billion barrels oil equivalent (BBOE). Owing to rapid economic growth and appreciable foreign investment policies, India has been able to lure significant oil & gas investments. With high global demand for oil and rising prices, countries are showing interest in exploring new oil & gas fields.

As policies were articulated in the fifth round of New Exploration Licensing Policy (NELP) many international companies have shown interest to come to India to drill the largely unexplored areas of gas & oil.

The NELP has enabled to open 48 exploration blocks of which 10 are on land and 38 off shore, including 12 deep-water blocks. In addition, companies undertaking exploration in deep waters and frontier areas will be facilitated with fiscal concessions for a period of seven years.

In a recent market research report, Indian Oil & Gas Industry: An Industry Analysis published by RNCOS, analysts believe that there are high expectations from NELP-V in the form of greater participation form existing players as also it would be successful in luring new companies.

RNOCS has compiled in its report some facts about Indias oil & gas sector, which would attract large foreign direct investment. These are

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