Biggest-ever round of oil and gas blocks may be open for bidding in Nov

The government is expected to open the ninth round of bidding under the Open Acreage Licensing Policy (OALP IX) in November, officials said, in another attempt to invite foreign investments into India's oil and gas exploration and production (E&P) sector.

The 26 blocks earmarked by the Directorate General of Hydrocarbons (DGH) for exploration and development of oil and gas under OALP IX, constitutes the largest-ever area offered by the government. Spanning more than 2.2 lakh square kilometres (sq km), OALP IX will be double the area under exploration and production (E&P) that has been awarded under the previous eight rounds.