Sharma: New plans

New Delhi, Jan. 24: Power producer NTPC is keen to bid for gas blocks in India and abroad with Oil and Natural Gas Corporation Ltd as partner.

“We are also keen to partner with the explorer in existing blocks,” R.S. Sharma, chairman and managing director of NTPC, told The Telegraph. “We are looking at Nigeria and West Asia for a gas deal,” he said.

Sources in ONGC said it would help the firms take on the competition from global players, especially the Chinese firms. ONGC has recently lost a bid to a consortium led by China National Offshore Oil Corporation for Hassi Bir Rekaiz acreage in Algeria’s latest licensing round.

Earlier, ONGC Videsh Ltd — the overseas arm of ONGC — was outbid by a consortium of China National Petroleum Corp, Petronas Cargali of Malaysia and France’s Total for the Halfaya oilfield in Iraq’s second post-war bid round.

The explorer is planning to bid for Indonesia’s 24 new oil and gas blocks, six blocks across New Zealand’s Reinga Basin and others in Africa and Latin America.

In Nelp VIII, the PSU power producer had joined hands with ONGC to win two shallow water blocks.

Sharma said NTPC, which would launch its follow-on public offer on February 3, planned to more than double its capacity to over 70,000 mega watts by 2017 at an investment of Rs 2,25,000 crore. “We plan to add 6,000mw annually during 2013-17,” he said.

By 2017, the power generation portfolio is expected to have a diversified fuel mix with thermal power comprising 53,000mw, gas, 10,000mw and hydro power, 9,000mw. Nuclear sources and renewable energy sources are expected to contribute 2,000mw and 1,000mw, respectively.

NTPC has a total installed capacity of 30,644mw. It has seven power plants, which use gas or liquid fuel, with a total capacity of 3,955mw.

It also runs a 1,480mw gas-based plant through a joint venture.