ONGC bags all 7 oil and gas blocks in fourth round of OALP auction

The seven blocks are spread over three sedimentary basins with resource potential of approximately 33 billion barrels of oil and oil equivalents of gas

The government on Thursday awarded Oil and Natural Gas Corporation (ONGC) all seven oil and gas blocks that were on offer in the fourth round of Open Acreage Licensing Policy (OALP), said Union Petroleum Minister Dharmendra Pradhan.
 
The current round added 18,510 square kilometre (sq km) to India’s total exploration area. Pradhan said bids for another 20,000 sq km area will be finalised soon as part of the fifth round.
 
Of the seven blocks, five are located in Madhya Pradesh and one block each in Rajasthan and West Bengal. The blocks are spread over three sedimentary basins with