Oil Block Auction

10th oil, gas bidding round may offer 'no-go' areas: Oil ministry official

India is likely to offer areas classified as 'no-go' areas in the tenth round of bidding for exploring and producing oil and gas in early 2025, a top oil ministry official said on Thursday. Bids for 28 oil and gas blocks offered in the ninth Open Acreage Licensing Policy (OALP) round closes on September 21 and the 10th round is in works, the official, speaking on condition of anonymity, told reporters here. OALP-X round will happen after the Parliament approves in the ensuing winter session amendments to the Oilfields (Regulation and Development) Act (ORDA) of 1948 to expand definition of mineral oils to include any naturally occurring hydrocarbon, coal-bed methane and shale gas/oil. The amendment also replaces mining lease with petroleum lease and decriminalises certain offences. "We hope that the amendments will be approved in the winter session of Parliament (likely in November/December). The changes are expected to bring confidence for the potential bidders for OALP X exploratio

Govt launches 9th round of oil, gas blocks for bidding, ONGC wins big

In the ninth bid round, 28 blocks, with an area of approximately 136,000 square kilometres, are on offer for bidding

These lesser-known firms set to make a mark in India's oil and gas sector

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions

Second wave of Covid-19 pandemic delays work under new OALP blocks

In most cases the pandemic and subsequent lockdowns have stalled the development of the fields awarded from 2018 onwards

ONGC wins seven of 11 blocks, OIL the remaining four under OALP-V

OALP Round V is expected to generate exploration work commitment of $400-450 mn; the 11 blocks spread over 8 sedimentary basins include 8 on-land, two shallow-water, and one ultra-deepwater block

Covid-19 impact: Fresh auction round likely for ONGC, Oil India blocks

It is also planning to give sops to producers by extending concessions, stretching timelines and asking the finance ministry to reduce oil cess.

Govt extends for third time bids to explore 11 oil and gas blocks

The government has awarded 94 blocks in four rounds for exploration in the last two-and-a-half years.

Govt to offer six oil & gas blocks in unexplored Vindhyan, Bengal basins

The government sees this as a milestone in the country's hydrocarbon sector, as investments so far were limited to only seven of the 26 sedimentary basins in the country

RIL-BP wins first block under OALP rounds, Oil India, Vedanta bag the most

Govt likely to clear allotment of blocks to successful bidders this week; The two rounds were initially estimated to attract investment worth Rs 80,000-90,000 cr

Auction for 14 oil, gas blocks in 2nd exploration licensing round on 7 Jan

India, the world's third biggest oil importer, wants to unlock its vast hydrocarbon resources to cut dependence on foreign oil

15 bidders likely in oil block auction; ONGC, Oil India may jointly bid

The date for submission of final bids was extended by a month from April 4 to May 2 after two overseas players showed interest

Modi to meet chiefs of BP, RIL, Saudi Aramco and other energy majors today

PM Modi's meet with top execs comes at a time when the country is gearing up to allot blocks under its new round of oil and gas auctions

Global roadshows soon for oil block auction under new regime

Total 46 contract areas in onland and offshore, with over 85 MT of in-place reserves