Wednesday, June 1 2005 12:32 Hrs (IST) - World Time -

New Delhi: Oil and Natural Gas Corporation (ONGC) is likely to win at least half of the 20 oil and gas blocks, bids for which were received yesterday (May 31, 2005).

ONGC, which bid for six blocks on its own and an equal number with Cairn Energy of UK, in all probability will win 10 blocks, Government sources said.

ONGC also bid for two blocks with ENI of Italy and another two blocks in consortium with ENI and Cairn Energy.

Sources said Reliance Industries, which bid for 12 blocks is likely to win at least three while Gujarat State Petroleum Corporation may win two.

Forty-eight domestic and global oil firms including British Petroleum, British Gas, Petronas of Malaysia, Eni, Reliance Industries and ONGC bid in the auction of 20 oil and gas blocks, the largest response ever since the launch of New Exploration Licensing Policy (NELP).

"There has been a tremendous response to our offer of 20 oil and gas blocks for bidding under NELP-V. The success has been more than my hopes," Petroleum Minister Mani Shankar Aiyar told reporters in New Delhi.

In all 26 foreign companies, 17 of them for the first time, bid while 21 domestic majors including new entrants like National Thermal Power Corp (NTPC) and Adani submitted offers at the close of bidding yesterday afternoon.

"We will award the blocks by July 31 and production sharing contracts will be signed by October 2," Aiyer said.

Reliance Industries bid for the maximum 12 blocks while state-owned Oil and Natural Gas Corp (ONGC) on its own or in consortium with others bid for 10 blocks. Oil India Ltd-led consortium put in bids for 6 blocks.