India is set to launch the tenth round of the Open Acreage Licensing Policy (OALP) on the first day of India Energy Week scheduled to happen from Feb. 11–14 in New Delhi. The focus of this round will be on no-go areas and offshore exploration and production (E&P), with the aim to attract foreign investors to increase India’s overall oil and gas production.
This is the largest bid round in terms of acreage offered in a single OALP bid round under the Hydrocarbon Exploration and Licensing Policy (HELP) regime. A total of 25 blocks, spread over 13 sedimentary basins, covering an area of around 1.92 lakh square kilometers, are on offer to the investor community, according to people close to the development.
Compared to the ninth round of OALP, which saw the award of 11 blocks to seven companies, including Oil and Natural Gas Corp, Vedanta Ltd., and Reliance Industries Ltd., the tenth round is expected to be more attractive to foreign investors. The ninth round saw a total of 39 blocks on offer, but the tenth round has increased the acreage on offer by nearly five times.
This is the largest bid round in terms of acreage offered in a single OALP bid round under the Hydrocarbon Exploration and Licensing Policy (HELP) regime. A total of 25 blocks, spread over 13 sedimentary basins, covering an area of around 1.92 lakh square kilometers, are on offer to the investor community, according to people close to the development.
Compared to the ninth round of OALP, which saw the award of 11 blocks to seven companies, including Oil and Natural Gas Corp, Vedanta Ltd., and Reliance Industries Ltd., the tenth round is expected to be more attractive to foreign investors. The ninth round saw a total of 39 blocks on offer, but the tenth round has increased the acreage on offer by nearly five times.
The features of the OALP Bid Round-X include 16 blocks with an area of 97,919.6 square kilometers falling in earlier 'no-go' areas, six blocks in shallow water, one in deep water, and 12 blocks in ultra-deep water areas. The bid round is primarily an offshore bid round, with 19 offshore blocks covering an area of 1.75 lakh square kilometers.
With the launch of the tenth round of OALP, India is taking a significant step towards attracting foreign investors and increasing its domestic oil and gas production. The bid round is expected to generate significant interest among foreign investors, who are looking to tap into India's growing energy market.
A new e-bidding portal is available for transparent and secure bidding with additional ease of doing business features, the people said.
Hardeep Singh Puri, India’s petroleum minister is also expected to highlight the evolving energy landscape and the need to balance immediate challenges with resilient supply chains for orderly energy transition., scaling up battery recycling, and advancing alternative chemistries such as sodium-ion and solid-state batteries.
He is also expected to urge the state governments and industries to act decisively to prevent disorderly shifts, mitigate shortages, and ensure that the benefits of clean energy are accessible to all.
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