Govt To Auction 55 Oil, Gas Exploration Blocks On Thursday


Govt To Auction 55 Oil, Gas Exploration Blocks On Thursday

The Government will on Thursday put on auction 55 exploration blocks in the first bid round in eight years that will offer a record area for prospecting of oil and gas.

This will be the first auction under the new Hydrocarbon Exploration and Licensing Policy (HELP) that allows companies to carve out blocks of their choice with a view to bringing about 2.8 million square kilometres of unexplored area in the country under exploration.

Atanu Chakraborty, Director General of the Directorate General of Hydrocarbons (DGH), said the HELP brought in open acreage licensing policy that allows companies to put in an expression of interest (EoI) for prospecting of oil and gas in any area that is currently not under any production or exploration licence. Read More…

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