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May 31, 2001 		Feedback  
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ONGC, Reliance win oil exploration blocks

The Oil and Natural Gas Corp and its partners have won 16 of the 23 blocks awarded by the federal government for oil exploration, an official statement said on Thursday.

ONGC's partners include state-run Gas Authority of India Ltd, Indian Oil and Oil India Ltd.

"ONGC has bid very aggressively in this round," Petroleum Minister Ram Naik told reporters.

Reliance Industries and Hardy Exploration have won four blocks -- one onland block, one shallow offshore block and two deep water blocks -- the statement said.

The total investment in oil exploration in these 23 blocks would be $780 million, the statement said.

An Indian Cabinet panel approved on Thursday the awarding of 23 blocks for oil exploration under the second round of its New Exploration Licensing Policy (NELP II). Energy-hungry India is involving private companies in oil exploration as part of its power sector reforms.

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