Reliance, ONGC, BP win Gujarat offshore block in OALP-IX

18 Apr 2025 CW Team

In a landmark partnership, ONGC, Reliance Industries, and BP have jointly won a Gujarat offshore block for natural gas exploration under OALP-IX, with ONGC emerging as the top bidder across this round.

The three firms secured block GS-OSHP-2022/2, marking the first such collaboration among India’s largest national oil company, its top conglomerate, and a global energy major. ONGC won 15 blocks overall — 11 individually and four in partnerships, including this one.

The Open Acreage Licensing Policy (OALP-IX) featured 28 blocks spread across nine onshore, eight shallow-water, and 11 ultra-deepwater zones. It covered over 136,000 square kilometres across eight sedimentary basins.

Vedanta Ltd, which bid for all blocks, won seven, while Oil India Ltd secured six alone and three with ONGC. The bidding round, which closed in September 2024, prioritised government revenue share and work programme quality. It drew limited participation from private firms, continuing the trend of dominance by public sector entities.

Notably, Reliance and BP had previously participated in only two OALP rounds and won both. Their latest success comes amid the government’s push to raise domestic output and cut India’s $222 billion oil import bill.

With the OALP-X round now open — offering 25 blocks over nearly 192,000 square kilometres — exploration activity is expected to intensify further.

Source: Business Standard

Infrastructure Urban

16 Sep 2025

India Plans Rs 200 Billion Risk Fund to Boost Infrastructure

India’s ambitious push for large-scale infrastructure growth is set to receive a major financing boost. The government is reportedly planning a Rs 200 billion risk guarantee fund to reduce uncertainty for investors and project developers.The fund aims to instil confidence among lenders and private players by covering risks beyond commercial considerations. It will primarily address losses arising from policy changes, land acquisition delays, or environmental clearances, while commercial risks will remain the responsibility of developers. This measure is expected to encourage banks and financ..

India Launches Rs 1 Billion Green Hydrogen R&D Scheme

Union Minister of New and Renewable Energy, Shri Pralhad Joshi, inaugurated the 1st Annual Green Hydrogen R&D Conference in New Delhi, organised by the Ministry of New and Renewable Energy (MNRE). He also launched a new Rs 1 billion Call for Proposals to support start-ups innovating in hydrogen technologies. The scheme will provide up to Rs 50 million per project for pilot projects in hydrogen production, storage, transport, and utilisation. The conference features 25 start-ups showcasing innovations from electrolyser manufacturing to AI-driven optimisation and biological hydrogen solution..

NGT Questions Bengaluru Tunnel Project Over Ecological Risks

Deputy Chief Minister and Bengaluru Development Minister D K Shivakumar’s ambitious Tunnel Road project faces scrutiny following a petition by a city-based citizens’ group. The Southern Bench of the National Green Tribunal (NGT) has issued notices to multiple government agencies, requesting formal responses.At the first hearing on 10 September, the tribunal directed notices be served to the State Government, Greater Bengaluru Authority (GBA), State Environment Impact Assessment Authority (SEIAA), Bangalore Smart Infrastructure Limited (B-SMILE), Ministry of Environment, Forest and Climate ..