Gujarat State Petroleum Corporation (GSPC) has appeared as provisional winners in as many as eleven blocks in the seventh round of New Exploration Licensing Policy (NELP VII). The state PSU is targeting to invest over $ 100 million (Rs 400 crore) initially for exploration of these blocks eight of which are offshore. In all 96 companies submitted bids for the 45 blocks, with 19 of them getting single bids and 26 others attracted multiple bids. Of the offshore blocks, GSPC has secured one block in KG Basin which is adjacent to its existing block KG-17 well, which is one of the most significant discoveries for the company. Of the eight offshore blocks, GSPC has secured three in Mumbai and two potential blocks in Cambay basin.
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