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The Directorate General of Hydrocarbons (DGH) has released the results of bidding for 21 areas under the Open Acreage Licensing Policy’s (OALP) sixth (VI) round. State-run ONGC was the top winner securing 18 areas for exploration of oil and gas in these blocks.
Another state-run firm, Oil India secured two blocks, while Sun Petrochemicals got one, DGH said. The Ministry of Petroleum and Natural Gas (MoPNG) has offered 21 oil and gas blocks under the Hydrocarbon Exploration and Licensing Policy (HELP) through the International Competitive Bidding (ICB) for petroleum operations.
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Exxon could be possible partnerThe Ministry has invited companies to bid for exploration, development and monetisation of the 21 blocks that are likely to contain conventional and unconventional hydrocarbon resources, distributed in the sedimentary basins. A total of 15 Onland blocks, four Shallow Water blocks and two Ultra Deep Water blocks were offered.
Blocks spread
The blocks are spread across Assam-Arakan Fold Belt, Cambay Basin, Narmada Basin, Mumbai Offshore, Andaman Basin, Ganga-Punjab, Bengal-Purnea and Assam Shelf Basin.
Besides, MoPNG has also offered eight oil and gas blocks spread across 5 states covering 15,766 square kilometers in the seventh (VII) bid round of OALP. The last date of submission of bids was February 15.
The Assam Arakan fold belt has one block, while the Assam Shelf has two. Rajasthan has one block, whereas one block is in the Satpura basin and two shallow water blocks are in Cambay off the Gujarat coast. The Ultra-deepwater block is in the Cauvery basin.
In March 2016, the government introduced OALP as a part of the Hydrocarbon Exploration and Licensing Policy (HELP). In February 2019 more reforms were undertaken to increase exploration activities, attract domestic and foreign investment in unexplored/ unallocated areas of sedimentary basins.
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