Ministry of Petroleum and Natural Gas launches Open Acreage Licensing Programme Bid Round-VI

In continuation of its focus on aggressive acceleration of E&P activities, the Government has now launched the OALP Bid Round-VI for International Competitive Bidding with effect from August6, 2021.A total of 21 blocks, with an area of approximately 35,346 sq. km. are on offer to the investors.The bidders would be able to submit their bids through an online e-bidding portal starting August6, 2021 and the deadline for bid submission is October 6, 2021 at 1200 hrs.Considering the COVID-19pandemic situation,bidders are allowed to submit requisite bid documents electronically. Award of these blocks to winning bidders is expected by the end of November2021.

The 21 blocks under OALP Round -VI are spread across 11 Sedimentary Basins and include fifteen Onland blocks, four Shallow Water blocks and two Ultra Deep Water blocks. Category wise, there are 12 blocks in Category-I basins, 4 in Category II basins and 5 in category-III basins.

It is expected that this Bid Round VI would generate an immediate exploration work commitment of around USD 300-400 million.An area of 156,580 sq. km. has already been awarded under past bid rounds OALP Bid Rounds(I to V). This Bid Round-VIis expected toaddfurther 35,346sq. km, taking the total area for exploration to 191,926 sq. km. under the HELP regime.