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Roadshows to attract investment in energy sector

The ministry of petroleum and natural resources plans series of roadshows in the United States, England and Canada, seeking strategic investment in oil and gas sector, said officials on Friday.

These shows tentatively scheduled in the middle of November are not aimed at attracting financial institutions instead the ministry plans to lure strategic and technical investment, they said.

The events would be held in London, Houston and Calgary in the post-text of 60 exploration blocs placed on auction across the country.“We hope to invite one or two energy companies to come here and bring technology with them,” said an official.

The oil and exploration companies and countries have almost two months to submit bids, which will be opened in the second week of December.The Petroleum Policy 2012 has increased the rates of gas for exploration and production companies. Under the new policy, the government has set wellhead gas price in Zone-III at $6 per MMBtu, $6.3 in Zone-II and $6.6 per MMBtu in Zone-I.

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