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