The Indian Ministry of Petroleum and Natural Gas has launched Open Acreage Licensing Programme (OALP) Bid Round-VIII, offering 10 blocks for International Competitive Bidding. Bids are open until 5 July 2023. Award of OALP Round-VIII Blocks will further add 34,365 km2 of acreage and take the cumulative exploration acreage under OALP to over 242,000 km2.
Since the promulgation of the Exploration and Licensing Policy (HELP) in March 2016, seven rounds of OALP have been concluded and 134 exploration and production (E&P) blocks have been awarded comprising an area of around 207,700 km2 spread across 19 sedimentary basins.
In 2022, India produced 33 Mt of oil and NGLs (stable) and 34 bcm of gas (+1.6%).
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