Govt may award contracts for first OALP oil and gas field auction in July

The blocks are expected to see cumulative peak production of 15,000 barrels and two million standard cubic meters a day of gas

The government is likely to award contracts for the first round of oil and gas auctions under its Open Acreage Licensing Policy (OALP) in the first week of July.

Anil Agarwal’s Vedanta, Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) would be getting blocks. During the round, Vedanta managed to take 40 of the 55 on offer; OIL and ONGC got the remaining blocks. ONGC, despite bidding for 30 blocks, got less than OIL, said sources.

The 55 blocks are spread across 10 sedimentary basins, covering 60,000 sq km.

The second round of Discovered Small Field (DSF) auctions will be held