+
ONGC wins 11 Oil Blocks in Ninth Auction Round
OIL & GAS

ONGC wins 11 Oil Blocks in Ninth Auction Round

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

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

Related Stories

Gold Stories

Next Story
Products

Interio by Godrej launches modular workplace solutions

Interio by Godrej has launched Workscapes, a modular workplace solutions category designed to help organisations configure and adapt workspaces to changing requirements. The portfolio combines mobile and compatible furniture and support elements that can be rearranged across different work modes without changes to fixed layouts.Workscapes includes Collaboration Tables, Privacy Solutions, Mobile Markerboards and Space Dividers, Power Solutions, Storage and Support Elements, Meeting and Presentation Tools, and Seating Elements. The range is designed for focused work, collaboration, informal disc..

Next Story
Infrastructure Urban

CAFE-III Gives Auto Industry Investment Clarity

The government’s new Corporate Average Fuel Economy (CAFE-III) norms have provided the automobile industry with a clearer framework for technology investments, according to industry representatives. The framework seeks to balance environmental objectives with flexibility for manufacturers while encouraging the adoption of flex-fuel vehicles and biofuels. Society of Indian Automobile Manufacturers (SIAM) President Shenu Agarwal said the five-year framework would give automakers greater predictability to plan investments and accelerate innovation. He said the regulation established annual targ..

Next Story
Infrastructure Energy

Mines Ministry to Auction Two Offshore Mineral Blocks in Andaman Sea

The Ministry of Mines will launch an auction of two offshore mineral blocks in the Andaman Sea on Thursday, seeking to unlock India’s offshore mineral potential and strengthen long-term mineral resource security. The blocks will be offered under a composite licence, which permits exploration and development activities in accordance with the applicable regulatory framework. The ministry said the auction was intended to encourage systematic exploration, attract investment and promote the use of advanced technologies for offshore mineral exploration and development. The initiative is also aimed..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code