New Delhi: The results of the ninth round of auctions under the centre’s Open Agricultural Permit Policy (OALP) were announced on Tuesday, with the State-owned Oil and Gas Corporation (ONGC) securing 15 blocks (ONGC) securing 15 blocks – working with other participants under Peterolemum and Natural and Natural Cass and Natural Coss of Pertroleme Cosing of Sopertion and Nocipal Spatie and Indipation Companies. Indian Oil has limited nine blocks, including three blocks with ONGC. Cairn Oil and Gas of Vedanta Group gained seven blocks.
ONGC is bundled with Reliance Industries Ltd and BP PLC, headquartered in London, in a block of the Saurashtra Basin. To be sure, this marks BP’s entry into the upstream exploration and production (E&P) space of India. ONGC cooperates with the Indian Oil Company and has three more blocks.
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Speaking at the signing ceremony of the OALP IX and Special DSF, Alliance Oil and Gas Hardeep Singh Puri said the growing interest in India’s oil and gas exploration and production (E&P) space “is a strong testament to India’s firm commitment to reducing its import dependence and ensuring its energy future”. DSF refers to the small field of discovery.
Demand from India
“In the next two decades, 25% of the world’s progressive demand growth will come from India. We are determined to unlock India’s unexplored energy potential, with an estimated 42 billion tons of oil and oil equivalent to natural gas,” he said.
A statement from a BP spokesperson said: “We are pleased to confirm that we have signed a contract for GS-OHSP-2022/2 (30%) under the new exploration licenses of ONGC (40%) RIL (40%) RIL (30%) and BP (30%) to achieve OALP IX BIDDINT COMPLIT and Intrant Indion and India and India and India and India and India and India and India and India trabor, the largest Indian conglomerate, Reliance Industries and the global energy major BP.
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Vedanta Group company Cairn Oil & Gas has won seven blocks in its latest bid round. It has submitted bids for all 28 blocks in the ninth round.
Portfolio expansion
“The new block issued consists of four onshore and three shallow water blocks in the postal code, Saurashtra and Mumbai’s hydrocarbon basin. With these additions, Cairn’s portfolio is now expanding to 69 blocks of 73,000 square feet nationwide,” Cairn said in a statement.
At the signing ceremony of OALP IX and Special DSF on Tuesday, the Ministry of Petroleum also launched an online portal to receive public comments on the draft oil and gas (PNG) rules for 2025. These rules are intended to implement regulations (regulations and development) in accordance with the provisions of the Oilfields (Regulations and Development), Article 2025555550.
An official statement noted that 76% of the total area currently being explored has been actively explored since 2014.
The OALP circular shape covers 136,596 square kilometers in 28 blocks. These include 13,875.19 square kilometers in the Onland area, 26,648.14 square kilometers in shallow waters, and 96,073.12 square kilometers in ultra-deep waters.
Under OALP-IX, eight blocks of sedimentary basins have been granted, covering 136,000 square kilometers, of which 38% fall in areas previously designated as “No-Go”.
In addition, two blocks were awarded under a special DSF round, with a total of 60 bids received.
