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Asia Pulse: US ENERGY MAJORS SHOW KEEN INTEREST IN INDIAN ENERGY SECTOR

Apr 03, 2006
NEW DELHI, April 3 Asia Pulse – More than 70 global energy firms including ExxonMobil, Chevron Texaco, Conoco Phillip, BHP and Shell lined up in Houston to have a sneak preview of India's latest offering of oil and gas blocks under the New Exploration Licensing Policy (NELP).
Of the 72 firms, which attended the Houston roadshow, 32 were from the US. The major companies which participated included ExxonMobil, Chevron Texaco, Conoco Phillip, BHP (Australia), Anadarco, Shell, BG, Cairn Energy, Occidental, Geoglobal Resources (Canada), Western Geophysical, GS Technologies, Marathon and Seata Resources.
“Response to the Road Show was upbeat and positive as many companies have already booked data at the Houston Data Centre for NELP-VI,” a government press release said here.
The Houston Road Show comprised extensive and detailed presentations and one-on-one meetings with the companies.
Companies like BG, Cairn Energy, ONGC, RIL shared their successful experience of working in Indian E&P sector.
Industry chamber CII made a presentation, stating its positive perception about investment climate/opportunities in India alongwith representations by KPMG and JP Morgan.
Petroleum Minister Murli Deora called upon the US firms to make use of the attractive investment opportunity provided by India in the form of 55 exploration blocks offered for global bidding under 6th round of NELP.
He said American companies' response in the past has not been encouraging, which should change as there has been a sea change in the policy framework and investment environment in India, the release said. (PTI)

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