Economy

ONGC, OIL win all blocks on offer in fifth round of OALP bids

Our Bureau New Delhi | Updated on October 22, 2020 Published on October 22, 2020

Oil and Natural Gas Corporation (ONGC) Ltd has won seven blocks while Oil India Limited (OIL) has won four blocks that were on offer in the fifth round of bids conducted under the Open Acreage Licensing Policy (OALP). In the four earlier bid rounds, 94 blocks spread over an area of 1,36,790 sq km were awarded.

OIL won two blocks each in the Rajasthan and the Assam Shelf & Assam Arakan basins in this round. ONGC won two blocks in Cambay, one each in Bengal-Purnea, Cauvery, Gujarat Kutch, Gujarat Saurashtra and Mumbai basins. Invenire Petrodyne, the only other player that participated in bids, did not win any blocks in this round.

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The 11 blocks offered in the OALP Bid Round-V are located in Western Offshore (Saurashtra & Mumbai) & Eastern Offshore (Cauvery) and also spread across the states of Rajasthan, Gujarat, West Bengal, Odisha, Arunachal Pradesh and Assam over eight sedimentary basins. In this fifth round, 11 hydrocarbon blocks covering approximately 19,800 square kilometres were offered for exploration.

The last date for submitting expressions of interest in the ongoing sixth and seventh auction rounds under OALP is November 30.

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Published on October 22, 2020
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