New Delhi: Contests have almost disappeared for India’s exploration licenses lately with private players staying away from auctions and two state players – ONGCNSE 0.49 % and Oil IndiaNSE 0.79 % – winning acreages without much challenge.
In the fifth round of bidding, the latest under the Open Acreage Licensing Policy (OALP), the government received just 12 bids for 11 blocks on offer. This included 7 bids by ONGC and 4 by Oil India. For just one block, ONGC will compete with a private bidder, Invenire Petrodyne Ltd. All other blocks would go to ONGC and Oil India without a contest.
