New Delhi, Sep 8 - India will finalise exploration blocks in the eighth round of auction of hydrocarbon assets by December, Petroleum and Natural Minister Murli Deora said Tuesday.

The minister was speaking at a roadshow in London where he has gone for a promotion campaign to attract foreign investors to the annual auction of oil, gas and coal-bed methane blocks. This time, the government is offering 70 explorations blocks, which include 28 in deep water.

Deora said that the entire process of awarding exploration blocks will be completed within four months of receiving the bids. The deadline is Oct 12.

'We expect to finalize the awards by middle of December 2009 and signing of production sharing contracts is expected to take another two months,' he stated in his keynote address Tuesday.