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Second wave of Covid-19 pandemic delays work under new OALP blocks

In most cases the pandemic and subsequent lockdowns have stalled the development of the fields awarded from 2018 onwards

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To date, the Centre has awarded 105 Open Acreage Licensing Policy (OALP) blocks under the revenue-sharing regime through five rounds of auction.

Twesh Mishra New Delhi

4 min read Last Updated : Jun 21 2021 | 6:10 AM IST

Companies that have bid for developing new acreages of oil and gas under a revised policy regime in India will delay production on account of pandemic-related difficulties.

In most cases the pandemic and subsequent lockdowns have stalled the development of the fields awarded from 2018 onwards.

To date, the Centre has awarded 105 Open Acreage Licensing Policy (OALP) blocks under the revenue-sharing regime through five rounds of auction. The OALP bid rounds saw most blocks on offer being awarded to Vedanta, Oil and Natural Gas Corporation (ONGC), and Oil India Ltd (OIL).

Global major BP Plc and its partner Reliance Industries (RIL) had

Topics : Coronavirus Lockdown Oil block auction ONGC

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