Second round of OALP auctions to start in May

Bidding stage of the first round of auctions is set to kick off next week

The second round of auctions under the Open Acreage Licensing policy (OALP) for allotting hydrocarbon assets will start by May. The bidding stage of the first round of auctions is set to start next week.

“Our plan is to kick off the next round by May. This will be immediately after the conclusion of the first round of auctions,” said a source close to the development. 

The new rounds are based on the Hydrocarbon Exploration Licensing Policy (HELP), the new contractual and fiscal model for award of hydrocarbon acreages, adopted by the government in March 2016. According to sources, the idea of