Oil India signs contract for 12 oil blocks; Vedanta 10, ONGC 8


Oil India signs contract for 12 oil blocks; Vedanta 10, ONGC 8

State-owned ONGC and Oil India Ltd alongside private sector Vedanta Ltd Tuesday walked away with almost all of the oil blocks auctioned in the latest licensing round as part of the government’s effort to raise domestic production.

The winners of Open Acreage Licensing Policy (OALP) Round II and III, which closed earlier this year, signed exploration and production contracts with the government at a function here Tuesday.

Speaking on the occassion, Oil Minister Dharmendra Pradhan said more production of oil and gas is priority of Modi-2.0 government as it looks to meet its rising energy demand of fast growing economy. Read More

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