DGH receives ten bids for eight oil and gas blocks in latest bid round

The Directorate General of Hydrocarbons (DGH) has received 10 bids for eight oil and gas blocks offered under the seventh round of the new exploration policy. Of the 10 bids received, only two are from the private sector. ONGC placed five bids while Oil India Limited (OIL) and Sun Petrochemicals Private Limited placed two each. Gas Authority of India Limited (GAIL) also placed a bid for one block. Of the eight blocks on offer in the seventh round, six blocks will go to bidders – three to ONGC, two to OIL and one to GAIL – without contest. For the remaining two blocks, ONGC will compete with Sun Petrochemicals.

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