Potency mining exploration products in India, especially oil and gas mine very potency. Causing is bid to company non mining exploration to do investment at some block oil and gas exploration . GVK company developer of infrastructure in India, wins bid to do investment of exploration block of oil and gas mine exploration.

GVK in association with BHP Billiton of Australia, has secured seven blocks under the New Exploration and Licensing Policy or NELP. This marks the maiden entry for GVK in gas exploration, the media reported.

The other companies that won blocks include Oil and Natural Gas Corporation, Reliance Industries, Cairn India, Geoglobal and Deep Industries also won blocks, the release stated.

The awardees are expected to pump in around $3 billion in the projects and the production sharing contracts for the blocks is expected to be finalized by September 2008.

There were 181 bids for the 45 blocks auctioned under the seventh NELP round. There are no takers for twelve other blocks. The auction was held under the shadow of withdrawal of the income-tax holiday for gas mining, the report indicated.

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