Reliance Industries along with BP have bid for an exploration acreage for the first time in their eight-year partnership under the government’s open acreage licensing policy for oil and gas that has put 32 blocks up for auction.
Reliance-BP has made an offer for one block in the Krishna-Godavari basin. The block had been demarcated by BP earlier.
Mining major Vedanta has put in bids for 30 of the 32 blocks, the highest by any explorers. ONGC has bid for 20 blocks.
Reliance and BP had joined hands in February 2011, with BP picking up a 30 per cent stake in Reliance’s 21 oil and gas exploration blocks for $7.2 billion.
