India expects to launch a third round of auctions for the exploration of oil blocks under its open acreage licensing programme within next few weeks, according to a government statement
Exploration blocks offered in the third round to be spread over 32,000 square km, the government said.
India on Monday launched the second round of auctions under which 14 exploration blocks spread over 30,000 sq km were offered.
India hopes to launch fourth and fifth rounds of auctions later this year.
Bids for the second round of auctions to close on March 12, the government said, adding that the bid rounds could generate $500-$600 million.
