India kicks off bidding for 55 oil and gas exploration blocks

According to petroleum ministry, after the ninth round of NELP in 2010, a total of 117 companies are operating in India, of which 48 are foreign companies

India on Thursday kicked off the bidding for the first round of Open Acreage Licensing programme (OAL), in which 55 blocks will be up for grabs. 

This is the first major bidding round in India after the National Exploration Licensing Policy (NELP) round in 2010.

The bids will be closed on April 3, while blocks will be finally awarded by May. Releasing the notice inviting offers (NIO) for the blocks, covering an approximate area of 59,282 square kilometer, petroleum minister Dharmendra Pradhan said, "This bidding has seen many firsts, which included the fact that bidders carved out the area. Bidders