Ongc Bags 16 Blocks, Reliance Settles For 4

Oil and Natural Gas Corporation (ONGC) has bagged most of the exploration blocks offered by the government under the second round of the new exploration licensing policy (NELP-II).

While ONGC on its own, or in consortium with other oil companies has got 16 blocks, the Reliance Industries Limited (RIL)-Hardy Exploration and Production India (HEPI) consortium could manage only four.

This is in sharp contrast to the NELP-I bidding, when the consortium of RIL and Niko Resources had bagged 12 blocks and ONGC eight.

Under NELP-II, ONGC on its own has bagged six blocks, while it has won the other 10 blocks in association with companies like Indian Oil Corporation, Gas Authority of India Ltd, Gujarat State Petroleum Corporation Ltd and Oil India Ltd. On the other hand, RIL and HEPI have jointly been awarded their four blocks