ONGC betting big on second, third rounds of OALP auctions, DSF-II

ONGC was criticised for its non-aggressive participation in the first round of OALP

State-run Oil and Natural Gas Corporation (ONGC) is betting high on the second and third round of auctions under the Open Acreage Licensing Policy (OALP) for petroleum blocks.

It has given a formal expression of interest (EoI) for seven areas in the second round and is in the process of doing so for discoveries in the Bay of Bengal region for the third round.  

Also, it would be participating in the second round of Discovered Small Fields auction (DSF-II) that has already been launched. "Of the 13 areas for which companies have submitted EOIs, ONGC has shown interest in seven. We