Overview
- The government opened the 11th Open Acreage Licensing Policy round, which invites companies to bid for exploration rights they select under a simplified licensing framework.
- The new offer covers about 80,230 square kilometres across 21 areas made up of 12 onland blocks, four shallow-water blocks, one deepwater block and four ultra-deepwater blocks.
- The regulator set award rules that tie Category-I basins to the highest revenue share paired with the largest work programme, while Category-II and III will go to the biggest exploration commitments.
- Together with the still-running OALP-X round, officials say the two offerings open roughly 262,817 square kilometres even as the earlier round continues toward closure.
- In a separate supply boost, ONGC began gas output from its Daman Upside Development Project in the Arabian Sea, sending initial volumes to the Hazira plant with production to be ramped up in phases.