US oil giants eye Indian energy sector

More than 70 global energy firms, including ExxonMobil, Chevron Texaco, Conoco Phillip, BHP and Shell, lined up in Houston to have a sneak preview of India’s latest offering of oil and gas blocks under the New Exploration Licensing Policy.

..”So far, 30 hydrocarbon discoveries have been made and in-place reserves assessed in 16 of these discoveries are four billion barrels of oil and oil equivalent gas. Some of them are world class discoveries. Despite such discoveries, India, still remains under explored or poorly explored,” Petroleum and Natural Gas Minister Murli Deora said.

Rediff