Centre signs agreements for fourth round of auctions under OALP

January 3, 2020

The Union Government signed agreement with Oil and Natural Gas Corporation Limited (ONGC) for exploration and development of seven oil and gas (O&G) blocks under the fourth round of Open Acreage Licensing Policy (OALP-IV) on January 2, 2020. The auction process for the same was commenced by Ministry of Petroleum and Natural Gas (MoPNG) in August 2019. Of the total seven blocks, five blocks viz. VN-ONHP-2019/1-5 are in Vindhyan sedimentary basin, while one block each is in Bengal Purnea basin (BP-ONHP-2019/1) and Rajasthan basin (RJ-ONHP-2019/1) in the states of Madhya Pradesh, West Bengal and Rajasthan.