NEW DELHI: State-run ONGC on Thursday bagged all the seven oil and gas blocks offered in the latest bid round that saw just eight bids coming in.
ONGC signed contracts for the seven blocks at an event where oil minister Dharmendra Pradhan and other ministry officials were also present.
“These seven blocks are adding exploration acreage of 18,510 square kilometres spread over three sedimentary basins of India and have a resource potential of approximately 33 billion barrels of oil and oil equivalent gas,” oil minister Dharmendra Pradhan said after the company management signed the contract at a function here.
“With the culmination of Bid Round-IV today we have awarded 94 blocks under the exploration policy in a very short time span of two and a half years. These 94 blocks cover an exploratory area of approximately 1,36,800 sq km over 16 Indian sedimentary basins,” Pradhan said.
