Ministry of Petroleum and Natural Gas launched Bid Round I under the innovative Open Acreage Licensing Programme in New Delhi

With the objective to achieve Prime Minister's vision for Energy Security and Sufficiency, the Ministry of Petroleum and Natural Gas (MoPNG) has steered a plethora of reforms in the recent past years. Aligned with the objective, the Government launched the Bid Round I under Open Acreage Licensing (OAL) Programme for international competitive bidding on 18 January, 2018.

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. Kms were announced for bidding. This is the largest offering of acreages; the Government has announced in the past 8 years.

Powered by Capital Market - Live News