MoPNG invites bids for OALP-II

The Ministry of Petroleum and Natural Gas (MoPNG) has released the notice inviting offer and the model revenue sharing contract for Open Acreage Licensing Policy (OALP), Bid Round II. Under this round, 14 exploration and production blocks with an area of about 30,000 square km are being offered for bidding under the Hydrocarbon Exploration and Licensing Policy. The bid submission date is March 12, 2019. Moreover, the government is also in advanced stages of finalising the OALP bid Round III which will offer about 32,000 square km. Bidding for this round is expected to be launched soon. Bid Rounds IV and V are also expected to be finalised during the year.