State-run ONGC has emerged as the top performer in OALP Round IX, winning 11 blocks independently and four more in partnerships, bringing its total to 15 blocks out of the 28 offered.

The latest auction, under the Open Acreage Licensing Policy, saw participation from public and private firms across 136,596 square kilometres of oil and gas fields. These include over 13,800 square kilometres of onshore blocks, 26,600 square kilometres of shallow-water zones, and 96,000 square kilometres of ultra-deepwater areas.

Cairn, the private exploration firm, bid for all 28 blocks and secured seven. Meanwhile, BP, the UK-based energy major, won its first Indian exploration block in partnership with ONGC and Reliance Industries. The consortium acquired block GS-OSHP-2022/2 in the Saurashtra basin, with a stake split of ONGC (40 per cent), Reliance (30 per cent) and BP (30 per cent). Earlier this year, BP also won the bid to operate the Mumbai High field, a key ONGC asset.

The government also launched a public consultation portal for the Draft Petroleum and Natural Gas Rules, 2025. These rules cover lease renewals, site restoration, unitisation, dispute resolution, and decarbonisation. The draft aims to operationalise new provisions under the Oilfields Regulation and Development Act.

Petroleum Minister Hardeep Singh Puri said the country accounts for a quarter of the expected global energy demand growth over the next two decades. He added that 76 per cent of India’s current exploration area was opened post-2014.

Source: Business Standard