Government extends deadline for oilfield auctions
POWER & RENEWABLE ENERGY

Government extends deadline for oilfield auctions

The Indian government has extended the deadline for bid submission in the eighth round of oilfield auctions to 5 July 2023. This is yet another extension for the auction, which was launched on 7 July 2022.

The government has also extended the deadline for the special coal bed methane (CBM) bid round to 30 June 2023. The CBM round was launched on 10 October 2022.

The government has also approved several modifications to the bid documents of the eighth bidding round. The new rules permit companies to carve out larger blocks, modify bid evaluation criteria and incentivise early monetisation of discoveries.

The modifications to the bid documents are aimed at attracting more companies to participate in the auction and to ensure that the government gets the best possible value for its oil and gas assets.

The eighth round of oilfield auctions will offer 57 oil and gas blocks for exploration and production. The blocks are located in a variety of sedimentary basins across the country.

The government is hoping that the auction will help to boost domestic oil and gas production and reduce the country's dependence on imports.

The auction is expected to be keenly contested by both Indian and international companies. The government is confident that the auction will be a success and that it will achieve its objectives.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Indian government has extended the deadline for bid submission in the eighth round of oilfield auctions to 5 July 2023. This is yet another extension for the auction, which was launched on 7 July 2022. The government has also extended the deadline for the special coal bed methane (CBM) bid round to 30 June 2023. The CBM round was launched on 10 October 2022. The government has also approved several modifications to the bid documents of the eighth bidding round. The new rules permit companies to carve out larger blocks, modify bid evaluation criteria and incentivise early monetisation of discoveries. The modifications to the bid documents are aimed at attracting more companies to participate in the auction and to ensure that the government gets the best possible value for its oil and gas assets. The eighth round of oilfield auctions will offer 57 oil and gas blocks for exploration and production. The blocks are located in a variety of sedimentary basins across the country. The government is hoping that the auction will help to boost domestic oil and gas production and reduce the country's dependence on imports. The auction is expected to be keenly contested by both Indian and international companies. The government is confident that the auction will be a success and that it will achieve its objectives.

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?