"There is an unprecedented interest in Indian exploration and production by global oil companies," Union oil minister Hardeep Singh Puri tweeted on 11th October after a roadshow in Houston in the United States.

 

Being the world's 3rd biggest oil importer, India also ships in about 84% of its oil needs from overseas and wants to quickly monetise its oil and gas reserves to cut its import bill.

 

According to a notice posted on the website of upstream regulator the Directorate General of Hydrocarbons, the 26 blocks - 15 ultra-deep-water blocks, 8 shallow water and 3 on land blocks - cover an area of 223,000 square kilometres (86,101 sq. miles).

 

So far, India has seen a tepid response from major global energy players in its oil and gas licensing rounds.

 

Earlier, the Union oil minister met executives from Exxon Mobil, oilfield service provider Baker Hughes, and with liquefied natural gas producers after launching a bidding round for offshore oil and gas exploration areas.

 

India is interested in the U.S companies' technical expertise in offshore production, ethanol and sulfur recovery in oil refineries, Reuters quoted Puri as saying.