In the latest Round-IX of the Open Acreage Licensing Policy (OALP), state-run Oil & Natural Gas Corporation (ONGC) has emerged as the biggest winner. The Maharatna PSU secured 11 exploration blocks independently and joined consortia to win four additional blocks. Oil India Ltd (OIL) bagged six blocks on its own and three more through consortium bids. From the private sector, Vedanta picked up seven blocks, while the Reliance-BP alliance won one block in partnership with ONGC.
This round included 28 blocks spanning 1.37 lakh sq km, comprising onland, shallow water, and ultra-deep water categories. The awards were announced during a signing ceremony in New Delhi. Petroleum Minister Hardeep Singh Puri said the government is open to revising policies to suit industry needs, citing the implementation of the updated Oilfields (Regulation and Development) Act, 1948.
Under the 2024 DSF round, AWEL and HOEC received two blocks in the Mumbai Basin. DSF-IV, with 55 discoveries, was also launched. Puri highlighted India’s CBM potential of 2,600 BCM and announced a Special CBM 2025 round with three new blocks.
