India is likely to launch the 10th round of auction of oil and gas blocks in January as the country looks to attract foreign investors to boost domestic production.
“We would like to go for it (the 10th round of New Exploration licensing Policy or NElP),” Oil Minister M Veerappa Moily told reporters on sidelines of Global HSE Conference organised by Cairn India ltd here.
The Oil Ministry is looking at offering as many as 68 blocks or areas for exploration of oil and gas in the 10th round of New Exploration licensing Policy (NElP). The round is likely to be announced at the Petrotech Conference.
“Having learnt some lesson from 1 to 9 rounds (of NElP), 10th round will be a perfect round,” the Minister said adding hindrances faced in the previous rounds would be removed.