Perhaps taking its cue from this column in the previous issue of India Business Law Journal, the government of India announced the commencement of the seventh round of the New Exploration Licensing Policy (NELP VII) on 13 December 2007.
Under NELP VII, the government is inviting bids for 57 oil and natural gas exploration blocks (the highest yet under any NELP round).
These blocks include 29 onland, nine shallow-water and 19 deep-water blocks.
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Akshay Jaitly is a partner in the Delhi office of Trilegal where Shailendra Kumar Singh and Sameer Guha are associates. Trilegal is a full service law firm with offices in Delhi, Mumbai, Bangalore and Hyderabad.
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