OIL

Malaysia eyes Indian petroleum acreages

MALAYSIAS state-owned oil company Petronas wants to participate in the Indian oil and gas explora...

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“Petronas has expressed interest - they have purchased data for some areas,” Tripathi, who is leading a delegation to Kuala Lumpur, said yesterday.

The Kuala Lumpur roadshow – to publicise India’s fifth New Exploration Licencing Policy – finishes today. Previous roadshows were held in London, Houston, Calgary, Dubai, Amsterdam, Moscow and Perth.

But the total number of bidders for the 20 onshore and offshore blocks on offer would only emerge after May 31 deadline, India’s Press Trust reported Tripathi as saying.

There are 12 new onshore blocks, six deepwater blocks and two shallow water blocks on offer. The Indian government launched the fifth NELP against a backdrop of significant oil and gas discoveries made by Reliance Industries and Niko Resources in Krishna.

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