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OALP Round-1: It is not the government's fault that it is not a success
May 03:
Round-1 of the OALP bid round doesn't seem to be much of a success if one goes by the number of companies bidding
8Only a handful of companies has participated, most of them government-owned.
8No foreign company has put in a bid
8The RIL-BP combine has stayed away.
8The show is made up of public sector companies and Vedanta, the latter perhaps thinking it can replicate the success of the Barmer field elsewhere in the country.
Comment: It is not the government's failure that players have not been attracted. The problem is that in an increasingly uncertain world when the oil & gas industry is under severe transition, there are not many risk takers for exploratory rounds in hydrocarbon poor basins today. Even the best global prospects are going unwanted. OALP has been finely fashioned but the timing is all wrong.
Click on Reports for the full list of bidders
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8Only a handful of companies has participated, most of them government-owned.
8No foreign company has put in a bid
8The RIL-BP combine has stayed away.
8The show is made up of public sector companies and Vedanta, the latter perhaps thinking it can replicate the success of the Barmer field elsewhere in the country.
Comment: It is not the government's failure that players have not been attracted. The problem is that in an increasingly uncertain world when the oil & gas industry is under severe transition, there are not many risk takers for exploratory rounds in hydrocarbon poor basins today. Even the best global prospects are going unwanted. OALP has been finely fashioned but the timing is all wrong.
Click on Reports for the full list of bidders
