NEW DELHI : India’s latest oil and gas block bid round attracted only 12 bids for the 11 areas on offer, with 10 of them getting single bids from state-owned ONGC and Oil India Ltd, upstream regulator DGH said.
The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP), bids for which closed on June 30.
According to the Directorate General of Hydrocarbons (DGH), the 11 blocks on offer got a total of 12 bids — seven bids by Oil and Natural Gas Corp (ONGC) and four by Oil India Ltd (OIL). Invenire Petrodyne Ltd was the only private bidder.
While ONGC was the sole bidder for six blocks, OIL was the lone bidder in all the four blocks it bid for, DGH said.
