Govt receives 24 bids for 21 blocks offered in latest exploration licensing round
The government has received a total of 24 bids for 21 blocks it offered in the latest exploration licensing round, with ONGC NSE -1.22 % submitting bids for 19 blocks, Sun Petrochemicals for three, and Oil India NSE -0.74 % for two, as per the information available on the website of the Directorate General of Hydrocarbons (DGH).
Limited bids in the sixth licensing round means ONGC can win 16 blocks without any contest while it will have to compete with Sun Petrochemicals for three blocks. Oil India too can win the two blocks it has bid for without any contest. The DGH, the oil ministry’s arm that oversees exploration bidding, didn’t say when the winners will be declared.
