55 exploration blocks auctioned in the first bid round under HELP

The government put 55 exploration blocks up for auction on January 18, 2018, in the first bid round under the new Hydrocarbon Exploration and Licensing Policy (HELP). HELP allows companies to carve out blocks of their choice through an open acreage licensing policy that allows companies to submit an expression of interest (EoI) for prospecting for oil and gas in any area that is presently not under any production or exploration licence. The blocks or areas that receive EoIs are put up for auction with the firm that originally selected the area getting a 5-mark advantage over the others.