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Vol. VIII Issue. 51
India eyeing Afghanistan O&G blocks sans bids

05 June 2012

Jun 5,2012'India is hoping to secure oil and gas exploration blocks in Afghanistan on the basis of its goodwill with the country, while it may also participate in the upcoming auction of six blocks to the north of Mazar-i- Sharif. An Indian delegation, including officials from Oil & Natural Gas Corp, is expected to visit Afghanistan soon on invitation from its mines minister. They were hoping to get some prospective blocks in Afghanistan without participating in the bidding process because of the goodwill that India has generated in the country. It is also expected that Indian firms will commit investments in Afghanistan to get blocks on nomination basis. India, one of the largest aid donors to war-ravaged Afghanistan, has lagged behind China in the race for acquiring oil and gas assets in the region. China bagged three energy blocks in the Amu Darya basin after promising to invest in a refinery there. New Delhi is keen on lie near the border to Turkmenistan, which has the world's fourth largest reserve of natural gas. Turkmenistan has proven gas reserves of about 265 trillion cubic feet. The oil and gas potential of Afghanistan is not fully established yet. India is also keen on joining the second round of bidding for energy blocks this time in the Afghan-Tajik-basin, having missed the first. ONGC Videsh, is considering participating in the auction of the six exploration blocks offered. The last date for submission of expression of interest is June 30.

      
 
 
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