The government may not be able to issue notice inviting tender for NELP – X during 2014 as some important policy decisions have not yet been finalised. Those policy decisions are likely to be taken only after the new government is formed at the centre. Industry is closely watching the developments as there is a proposal for revenue sharing model instead of currently followed PSC system. It is learnt that there is hectic behind-the-scene lobby is going on against the introduction of revenue sharing model.
According to the available information, of the 97 oil and gas blocks slated to be offered in NELP – X, 52 blocks have already been cleared and inter-ministerial clearances have been sought for the remaining 45 blocks.
However, the government is already preparing other ground work for NELP – X. Loading of seismic and well data for viewing by prospective bidders is expected to be completed by May 31, 2014. While the preparation of basin information dockets is expected to be complete by June 30, 2014, preparation of data packages for sale to bidders is expected to happen by August 31, 2014.
