The Indian Ministry of Petroleum has announced the launch of the eighth round of the open acreage licencing programme (OALP), offering ten blocks for international competitive bidding. This latest bidding cycle has been extended until 5 July and is intended to add 34,364.53 km² of exploration acreage to the programme. If successful, this would take the total exploration coverage under OALP to 242,055 km², spread across 19 sedimentary basins. Since its inception in March 2016, the hydrocarbon exploration and licensing policy has successfully completed seven bidding rounds and awarded 134 E&P blocks. The announcement follows significant changes in contractual framework and incentive structure.
Government launches 8th round of bidding for 10 oil and gas blocks
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
