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Oil Ministry launches sixth bid round of Open Acreage Licensing Programme

Centre expects minimum work commitment of $300-400 million immediately

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

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In earlier rounds, the Oil Ministry had awarded 105 Blocks spanning an area of around 156,580 sq km, which attracted total committed investment of about $2.4 billion.

Twesh Mishra New Delhi

2 min read Last Updated : Aug 07 2021 | 12:34 AM IST

The Ministry of Petroleum and Natural Gas launched the sixth round of bids under the Open Acreage Licensing Programme (OALP). An official statement said that 21 blocks, with an area of approximately 35,346 sq km are on offer to investors.

“The bidders would be able to submit their bids on an online e-bidding portal starting August 6, 2021 and the deadline for bid submission is October 6, 2021. Award of these blocks to winning bidders is expected by the end of November 2021,” the statement said.

In earlier rounds, the Oil Ministry had awarded 105 Blocks spanning an area of

Topics : oil & gas blocks Oil Ministry Open Acreage Licensing Programme blocks

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