{"id":308611,"date":"2020-01-03T12:16:05","date_gmt":"2020-01-03T06:46:05","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308611"},"modified":"2020-01-03T12:16:05","modified_gmt":"2020-01-03T06:46:05","slug":"big-win-for-ongc-walks-away-with-all-7-oil-gas-blocks-on-offer","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/big-win-for-ongc-walks-away-with-all-7-oil-gas-blocks-on-offer\/","title":{"rendered":"Big win for ONGC! Walks away with all 7 oil, gas blocks on offer"},"content":{"rendered":"<p>The Union government Thursday awarded contracts to state-run Oil and Natural Gas Corporation Ltd (ONGC) for seven oilfields offered under the fourth round of Open Acreage Licensing Programme (OALP) auctions. No private players had participated in the auctions for these blocks in this latest OALP round. ONGC had bid for all the blocks cumulatively spread across 18,510 sq km. It was the only bidder for the six blocks offered in Madhya Pradesh and one in West Bengal. For the 2,111 sq km block in Rajasthan, ONGC competed with Oil India Ltd.<\/p>\n<p>This is the first round of OALP auction after the Cabinet, in February, amended the revenue sharing model for hydrocarbon exploration and capped the government\u2019s revenue share at 50%. As many as 87 blocks covering an area of 1.2 lakh sq km were awarded in the three previous OALP rounds. \u201cWe have shifted our focus from revenue to production maximisation and have adopted the path of continuous reform,\u201d Dharmendra Pradhan, Union minister for petroleum and natural gas said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union government Thursday awarded contracts to state-run Oil and Natural Gas Corporation Ltd (ONGC) for seven oilfields offered under the fourth round of Open Acreage Licensing Programme (OALP) auctions. No private players had participated in the auctions for these blocks in this latest OALP round. ONGC had bid for all the blocks cumulatively spread across 18,510 sq km. It was the only bidder for the six blocks offered in Madhya Pradesh and one in West Bengal. For the 2,111 sq km block in Rajasthan, ONGC competed with Oil India Ltd. This is the first round of OALP auction after [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-308611","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=308611"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308611\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}