"We are in active conversations with Exxon, Chevron, Shell and ConocoPhilips and are keen to partner in the development of their gas and oil blocks... " the paper quoted an unnamed company recognized as saying.
"Both from a valuation and production perspective these assets are quite attractive as we are keen to get primarily in developed and producing assets, " the recognized told the paper.
London-listed Essar Energy already holds property in Africa and Europe.
The company is part from the Essar Group, controlled by Indian billionaire brothers Shashi as well as Ravi Ruia, which has interests in steel, ports as well as logistics and telecommunications.
In February, it agreed to purchase Royal Dutch Shell's Stanlow refinery in northwest England with regard to Rs 1, 650 crore ($350 million).
An Essar group spokesman declined to discuss the matter.