Rs 40,000 crore investment expected in OALP-II bid round

Rs 40,000 crore investment expected in OALP-II bid round

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.

Govt to carve out hydrocarbon blocks for OALP-II

Govt to carve out hydrocarbon blocks for OALP-II

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.

OALP round 1 for oil, gas blocks gets good response

OALP round 1 for oil, gas blocks gets good response

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.