India Receives 13 Applications From Firms Under Second Round Of Oil And Gas Auctions


India Receives 13 Applications From Firms Under Second Round Of Oil And Gas Auctions

The government has received 13 applications or Expressions of Interest (EoIs) from companies showing interest for oil and gas blocks offered for bidding under the second round of Open Acreage Licencing Policy (OALP) auctions, fresh data from the Directorate General of Hydrocarbons (DGH) showed. This is 76 per cent less than the 55 EoIs that were received in the first round.

The country has adopted a new bidding model under which it holds bi-annual oil and gas auctions where an investor gets an opportunity to carve out blocks of their choice on the basis of the information available in the National Data Repository (NDR).

Under the EOI phase, the window for which closed on 15 May 2018, the DGH received 13 Expression of Interest (EOIs), a DGH executive said who did not wish to be identified. He did not share details of companies who submitted the interest. Read More

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