MoPNG awards 105 exploration blocks under OALP over five bidding rounds

According to the Ministry of Petroleum and Natural Gas (MoPNG), a total of 105 exploration blocks measuring an area of 156,580 square km have been awarded under the Open Acreage Licensing Policy (OALP), over five bidding rounds. Of the 105 blocks, 89 blocks are currently active for carrying out exploration activities. The cumulative production of crude oil from 2004-05 to 2020-21 is 4.9 million tonnes (mt). On August 6, 2021, India launched a new oil and gas exploration bid round, to attract US $300 million-$400 million investment in discovering hydrocarbon reserves in the country. As many as 21 blocks or areas are on offer in OALP bid Round VI, which will close for bidding on October 6, 2021.