Phase-I of Nelp-VII gets $1.49 billion

Press Trust Of India / New Delhi August 22, 2008, 0:52 IST

The latest NELP-VII auction in Phase 1 received commitments amounting to $1.49 billion for 45 blocks, including $321.15 million for deep sea exploration, $598.255 million for exploration in shallow waters and $572.75 million for onland blocks, according to the Directorate General of Hydrocarbons (DGH).

There were bids for 45 out of the 57 blocks on offer. The investments committed for Phase II and III have not been divulged.