As many as four companies, including three state-owned, put in 10 bids for the eight oil and gas blocks on offer in India’s latest round of bidding for exploration acreage, according to the Directorate General of Hydrocarbons (DGH).
Total six out of the eight blocks on offer got single bids while there were two bidders for the remaining area, DGH said in a summary of bids received on blocks that were offered in the seventh bid round of Open Acreage Licensing Policy (OALP).
Oil and Natural Gas Corporation (ONGC) bid for five out of the eight blocks or areas offered for exploring and producing oil and gas, while Oil India Ltd (OIL) was the only bidder for the two blocks it made an offer for. GAIL was the sole bidder for the lone block on offer from Rajasthan.
