NTPC, govt sign production sharing pacts for NELP-VIII blocks

State-run power major, NTPC, today, said that it has signed production sharing contracts (PSC) with the Government of India, for four oil and gas blocks that were awarded to the company in the eighth round of bidding, under the new exploration licensing policy (NELP), held last year . The company has signed agreements for one block in the Cambay basin, in Gujarat, two blocks in the Krishna-Godavari basin, off the coast of Andhra Pradesh and one in the Andamans.

NTPC has 100% stake in the Cambay basin block and a holding of 10% in the others in which it has partnered with the exploration major ONGC and other state-owned firms, such as GAIL, Oil India Limited, Gujarat State Petroleum Corporation (GSPC) and Andhra Pradesh Gas Infrastructure Corporation (APGIC), said an NTPC statement. Pertinently, the Cambay basin block dubbed, CB-ONN-2009/5 is an on-land block, while KG-OSN-2009/1 and KG-OSN-2009/4 are shallow-water and AN-DWN-2009/13 deep-water blocks.