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GSPC invites bids from four oil majors
Special Correspondent
NEW DELHI:
The Gujarat State Petroleum Corporation has called for bids by November 2 from four leading global oil companies — Chevron, British Petroleum, the BG group of the U.K. and ENI — for selling 30 per cent stake in its gas-rich offshore block in the Krishna Godavari Basin.
According to GSPC Managing Director, D. J. Pandian, these companies were shortlisted from about 13 firms that had expressed interest in picking up a stake in the KG Basin. GSPC is the operator in the block with 80 per cent stake along with GeoGlobal Resources and Jubilant Enpro as partners.
Mr. Pandian told newspersons here on Thursday that GSPC planned to begin gas production from the field by the end of 2008 or early 2009 and would transport it through a 1,600-km-long pipeline from Kakinada to Gujarat.
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