India’s Ministry of Petroleum and Natural Gas has unveiled the winners of its latest oil and gas block bidding round, the eighth round of Open Acreage Licensing Policy (OALP-VIII). In this round, a total of 10 blocks were offered, and five companies (ONGC, Vedanta, Oil India, Sun Petrochemicals, and Reliance-BP Exploration) submitted 13 bids, according to the Directorate General of Hydrocarbons (DGH). ONGC was the exclusive bidder for six blocks, while Reliance-BP secured the ultradeep sea block in the Krishna Godavari basin on its own. ONGC bid for nine out of the 10 blocks, winning seven of them, excluding the block bid by Reliance-BP. Oil India Ltd and Sun Petrochemicals Pvt Ltd also won one bid each.
Simultaneously to the results of OALP-VIII, the Ministry has launched the ninth bidding round under the Open Acreage Licensing Policy (OALP-IX), which offers 28 hydrocarbon blocks spread across eight sedimentary basins in India. The new blocks on offer include nine on land, eight shallow water, and 11 ultra-deepwater blocks, covering an area of approximately 136,596 km2. The deadline for bid submissions is set for 29 February 2024.
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