MoPNG launches OLAP bid round-VIII

The Ministry of Petroleum and Natural Gas (MoPNG) has launched the eighth round of the open acreage licensing programme (OALP) bid, offering 10 blocks for international competitive bidding. The bids can be submitted through a dedicated online e-bidding portal till September 6, 2022. The successful award of Round VIII blocks will add 36,316 square km of exploration acreage. The cumulative exploration acreage under the OALP regime will be increased to 244,007 square km. The 10 blocks under the present bid round are spread across nine sedimentary basins and include two onland blocks, four shallow water blocks, two deep water blocks and two ultra-deep water blocks. It is expected that OALP Round VIII will generate immediate exploration work commitments of $600 million-$700 million.