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The fourth round of bids for oil and gas blocks under the Open Acreage Licensing Programme will be launched on Tuesday. It is expected to generate immediate exploration work commitment of around $200-250 million.
A statement from the Directorate-General of Hydrocarbons said, “In this bid round, seven blocks, with an area of approximately 18,500 sq kilometre, are being offered for bidding. All blocks on offer are based on Expressions of Interest submitted by the bidders.” Five blocks on offer are in Madhya Pradesh, one each in West Bengal and Rajasthan.
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