India's Directorate General of Hydrocarbons announces the offer of 26 blocks covering an area of approximately 2.23 lakh Sq.km for Exploration and Development through International Competitive Bidding. Out of these blocks - 18 carved out by Government & 8 as a result of EoIs received from potential investors.

Features of Offshore Bid Round (OALP Bid Round–IX)

• 26 Blocks spread over 9 Sedimentary Basins, covering an area of 2,23,031.4 Sq. Km
• Out of 26 Blocks, 15 Blocks are in Ultra Deep-Water, 8 Blocks are in Shallow Water, 3 Blocks are in Onland
• Ultra Deep-Water blocks covers an area of 1,59,439.82 Sq. km, Shallow Water blocks covers an area of 59,925.27 sq.km and Onland blocks covers an area of 3,666.33 sq.km
• Spread over Category-I (11 Blocks) and Category-II (13 Blocks) and Category-III (2 Blocks) Basins

CBM Bid Round-2022

The Government also announces the offer of 16 CBM Blocks under Open Acreage Licensing Policy ("OALP") through International Competitive Bidding ("ICB").

Salient Features of Special CBM Bid Round-2022

• Prior experience in Oil and Gas sector NOT mandatory
• All Blocks in Category-III basin i.e. no revenue sharing till windfall gain
• Single state carving out of block for administrative ease (each block falls within one state only)
• Single License for Conventional & Un-conventional Hydrocarbons
• Full Marketing and Pricing Freedom for Gas produced
• Exploration allowed during entire contract period
• No overlap of CBM Blocks with existing/proposed Coal Blocks/mines
• 100% participation from foreign companies/Joint ventures
• Availability of Gas Pipeline infrastructure around the Blocks

KeyFacts Energy: Licensing news