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India signed contracts for 13 hydrocarbon blocks opened for bidding in the last two years.

Of the 10 blocks offered, ONGC won seven while Reliance-BP, Oil India Ltd and Sun Petrochemicals Pvt Ltd got one area each.

In the recent Open Acreage Licensing Policy (OALP-VIII) bid round, India's ONGC won seven exploration blocks while Reliance Industries Ltd and BP Plc secured one. Oil Minister Hardeep Singh Puri confirmed the signing of contracts for 10 blocks, including three coal-bed methane (CBM) areas. The bidding saw limited private sector participation, with notable exclusions of global energy majors. The government aims to bolster domestic oil and gas production, emphasizing policy reforms to reduce import dependency.

Oil and gas industry news: State-owned Oil and Natural Gas Corporation (ONGC) won seven areas for exploration of oil and gas while a consortium of Reliance Industries Ltd and BP Plc walked away with one in the latest bid round., Companies News, Times Now

New Delhi: The Ministry of Petroleum and Natural Gas (MoPNG) Wednesday signed contracts for 10 blocks awarded under Open Acreage Licensing Policy (OALP) bid round-VIII and three Coal Bed Methane (CBM) blocks awarded under Special CBM bid round-SCBM 2022.