Moily expects NELP X to get all necessary regulatory approvals by Feb. 15

M Veerappa MoilyThe tenth edition of oil & gas block auctions is expected to get all regulatory approvals by the mid of February this year, Petroleum Minister M Veerappa Moily said.

The government has plans to launch the NELP X, the tenth edition of oil & gas block auctions, under the Uniform Licensing Policy (ULP) regime that will allow energy explorers to bid for all sources of hydrocarbons like oil, gas and methane.

Mr. Moily said his Ministry was making efforts to ensure that the NELP X received all necessary regulatory approvals, including environmental clearances, before the oil & gas blocks are auctioned.

Speaking on the topic, he added, "For the NELP X - Open Acreage Licensing Policy and revenue sharing model - we expect the Cabinet Committee on Economic Affairs' approvals by February 15."

Out of the total 86 oil & gas blocks shortlisted for the upcoming auctions in NELP X scheme, more than half (46) have already received the requisite clearances.

On issues concerning the Reliance Industries Ltd (RIL)-operated Krishna Godavari Basin D6 block, Mr. Moily said his Ministry would seek CCEA's permission to allow RIL and its partners to conduct a drill stem test as the stipulated time for the same was over. He added the Cabinet note would be circulated by the end of January.