The central government on Thursday launched the first round of bidding under the "Open Acreage Licensing" (OAL) programme for international competitive bidding.
"For the first time in India, 55 bidder-selected blocks, each carved out by prospective bidders themselves in promising basins with an area of 59,282 sq.km., were announced for bidding," the Ministry of Petroleum & Natural Gas said in a statement.
"This is the largest offering of acreages the government has announced in the past eight years."
--IANS
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