CBM-II PROMOTIONAL ROAD SHOW LAUNCHED
TODAY
Shri Ram Naik, Minister
of Petroleum and Natural Gas invited exploration and production
companies and investors to avail of investment opportunities being
offered under the second offer of the Coal Bed Methane (CBM-II).
Shri Naik was speaking to prospective investors in the first promotional
roadshow at New Delhi on Tuesday, 27th May, 2003. The
Minister said that CBM-II seeks to attract investors for exploration
and production of CBM. Shri B.K. Chaturvedi, Secretary (P&NG)
and Shri P.K. Mishra, Secretary (Coal) were also present. On
this occasion, Shri Ram Naik welcomed Smt. Sumitra Mahajan, the
new Minister of State for Petroleum & Natural Gas.
Shri Naik mentioned
that a total of 40 Exploration & Production Companies, oil
& gas field service providers, Financial Institutions and
other organisations participated in the Delhi Road Show. Some
of the main E & P Companies, which participated in the Road
Shows were Oil & Natural Gas Corporation Limited, GAIL India
Limited, Oil India Limited, Indian Oil Corporation Limited, GSPCL,
Neveley Lignite Corporation, CMPDI, BG Exploration and Production,
Premier, Schlumberger, Hardy, Itochu, Jubilant and Prize Petroleum.
Shri Naik informed
that the Government of India would undertake an effective promotional
programme to highlight the attractive investment opportunities
available under CBM-II to prospective investors. To advise the
Government to promote CBM-II effectively, the consortium of MT
Energy Associates – Petrotel Inc. Plano had been appointed as
the Marketing Consultant for CBM-II. A Promotional roadshow was
planned at Houston (12th – 13th June, 2003)
to bring home to global investors the advantages that India offers
under CBM. Shri Ram Naik and Shri Kariya Munda, Minister (Coal)
would participate and address the roadshow at Houston.
He further expressed
the hope that CBM-II would attract a very good response from E&P
companies and investors and they would avail of the attractive
investment opportunities being offered through CBM-II.
Shri J.M. Mauskar,
Joint Secretary, Ministry of Petroleum and Natural Gas made a
presentation on the attractive fiscal and contractual terms offered
by the Government of India under CBM-II. Dr. Avinash Chandra,
Director General (Hydrocarbons) made a presentation on the technical
features of the 9 blocks on offer.
To facilitate data
viewing by Exploration and Production companies, the Government
of India would also be opening data centres at Delhi and Houston.
The data for CBM-II can be viewed by companies at any of these
two centres and thereafter interested companies may purchase data
from DGH office at New Delhi. In order to provide access to information
such as salient technical data on the blocks on offer, the bid
documents and highlights of CBM-II, a special web site has been
created at www.india-cbm2.com.
This website can also be accessed from the Ministry’s official
website www.petroleum.nic.in
as well as www.dghindia.org.
The closing date
for CBM-II bid is 15th October, 2003.
