Ministry of Petroleum and Natural Gas Signs Contracts For 32 Blocks Awarded Under Open Acreage Licensing Programme

Ministry of Petroleum and Natural Gas signed contracts for 32 blocks awarded under Open Acreage Licensing Programme (OALP) Bid Rounds - II & III. The Government had launched OALP Bid Rounds-II and III on 07th January, 2019 and 10th February, 2019 respectively. While Bid Round-II offered 14 Blocks (covering total area of approx. 30,000 sq. km.), the Bid Round-III offered 23 blocks including 5 CBM blocks (covering total area of approx. 32,000 sp.km.) under International Competitive Bidding (ICB) process. The bidding for both these rounds closed on 15th May, 2019. Subsequent to evaluation, a total of 32 blocks were approved for award to 6 companies, for which the Revenue Sharing Contracts have been signed today, in the presence of the Minister of Petroleum and Natural Gas and Steel Shri Dharmendra Pradhan. The total area awarded today in the 32 blocks is 58,998 sq.km. (Onland- 31,551 sq.km; Offshore- 27,447 sq.km.).

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