Oil minister Hardeep Singh Puri said 10 blocks for exploration and production of oil and gas were offered in the eighth round of Open Acreage Licensing Policy
Public sector giant Oil and Natural Gas Corporation (ONGC) won seven of the 10 oil and gas exploration that were put up for bidding on Wednesday as part of the eighth round of Open Acreage Licensing.
India had offered 10 blocks for bidding of which ONGC won seven, Oil India, Sun Petrochemicals, and a consortium of Reliance Industries Ltd and BP Plc got one area each. Contracts for the 10 blocks were signed on Wednesday. "Estimated investments in awarded blocks for committed exploration work program is to the tune of $7.4 Million," the press statement added.