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Government defers bid deadline for OALP-II by a month to April 10

Gasoil News - Published on Thu, 14 Mar 2019

Image Source: 164.100.94.212
India’s Directorate General of Hydrocarbon, without giving reasons for extending the deadline, announced that “The government has deferred by one month the last date for bidding for the 14 oil and gas exploration blocks offered in the second round of Open Acreage Licensing Policy. Bid submission closing date for OALP Bid Round-II stands extended up to April 10, 2019.”

Bids for the 14 blocks offered in OALP-II bid round, covering an area of 29,333 square kilometres, were to close Tuesday.

The last date of bidding coincides with the bid deadline for the 23 oil and gas and coal-bed methane blocks offered in the third round of OALP, which was launched on February 10.

OALP-II bid round was delayed at six months and its launch came barely a month before the third round.

Officials said OALP-II and OALP-III will run concurrently.

In the first round of OALP last year, as much as INR 60,000 crore was committed in the exploration of oil and gas in 55 blocks or areas.

Under this policy, called open acreage licensing policy or OALP, companies are allowed to put in an expression of interest (EoI) for prospecting of oil and gas in any area that is presently not under any production or exploration licence. The EoIs can be put in at any time of the year but they are accumulated twice annually. The blocks or areas that receive EoIs at the end of a cycle are put up for auction with the originator or the firm that originally selected the area getting a 5-mark advantage.

Source :

Posted By : Rabi Wangkhem on Thu, 14 Mar 2019
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