26 foreign cos bid for gas, oil explorations in India
Pallab Bhattacharya, New Delhi
In an unprecedented response to India's search for energy security, 26 companies from 13 countries, including the UK, Canada and Kuwait, have bid for explorations of gas and oil fields in the country.Seven leading companies from the United Kingdom and five from Canada have joined the race for the fifth round of bids under New Exploration and Licensing Policy, according to Petroleum Minister Mani Shankar Aiyar. British companies including Cairn Energy, British Petroleum and British Gas while Petrobas of Brazil, Petronas of Malayasia and KUFPEC of Kuwait are bidding for exploration, he told reporters here on Tuesday. "India has arrived with a thud in the global energy market," commented Aiyar. There are at least 17 foreign companies who are bidding for the first time in energy exploration in India and the scenario indicates a new era in Indian hydrocarbon sector, he said. The Indian government has received a total of 69 bids including leading private sector firm Reliance and state-owned Oil and Natural Gas Corporation. The global energy major Chevron Texaco has not made a bid.
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