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Oil India wins 12 blocks under OALP bids round II & III

Capital Market 

Oil India has emerged as the biggest winner of oil & gas blocks under Open Acreage Licensing Policy (OALP) rounds II & III by winning 12 blocks out of 32 blocks for which bids were submitted by leading Operators.

The contracts for these blocks were signed by OIL in a ceremony on 16-07-2019, presided over by Dharmendra Pradhan, Honourable Minister of Petroleum & Natural Gas and Minister of Steel.

Earlier OIL was awarded 9 blocks under OALP round-I and 2 blocks under Discovered Small Field round-II.

Post award of the OALP and DSF blocks, the Company's acreage position in Assam and Assam Arakan Basin has increased from 8,375 sq. km. to 16,770 sq. km. and the overall in-country acreage position from 9,199 sq km to 51,477 sq km.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 17 2019. 17:18 IST