Government-owned Oil India, Anil Agarwal-led Vedanta, and Oil and Natural Gas Corporation (ONGC) won the maximum number of oil and gas fields under India’s second and third round of oil and gas auctions held under Open Acreage Licensing Policy (OALP)
The government has again deferred the last date for bidding for oil and gas exploration blocks offered under the Open Acreage Licensing Policy (OALP) by over a month to May 15. Last date for OALP bid round II and III, which are running almost concurrentl
India’s hydrocarbon space will test the patience and policy consistency of the government of the day in the coming years as the country’s exploration policy enters a transition phase.
India has offered 23 hydrocarbon blocks in the third exploration bidding round of the Open Acreage Licensing Policy (OALP). Petroleum and natural gas minister Dharmendra Pradhan opened the auction at Petrotech, a three-day industry conference that began in Greater Noida on Sunday.
The government is expecting about Rs 40,000 crore of investment in the 14 blocks it put up on auction for prospecting of oil and gas in the second round of open acreage licensing policy (OALP), Oil Minister Dharmendra Pradhan said on Monday.
Union Minister of Petroleum and Natural Gas & Skill Development and Entrepreneurship, Dharmendra Pradhan on Monday launched NIO and MRSC for Open Acreage Licensing Programme (OALP) Bid Round-II.
The government has approved the award of 55 exploration blocks held under India’s largest oil and gas auctions — Open Acreage Licensing Policy (OALP) and plans to sign exploration contracts with the successful bidders in New Delhi on 6 September, the Directorate General of Hydrocarbons (DGH) said.
Given the tepid response from explorers to auction of hydrocarbon blocks under the second round of the Open Acreage Licensing Policy (OALP), the Directorate General of Hydrocarbon (DGH) has decided to carve out four blocks on its own and put up for bidding.
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
State-run explorer Oil and Natural Gas Corp (ONGC) bid on Wednesday for 37 oil and gas blocks while private sector Vedanta Resources placed bids for all the 55 areas on offer in the first auction of oil and gas acreage under the new open acreage licensing policy (OALP), according to an official announcement.