India Opens Biggest Oil, Gas Block Bid Round; 25 Blocks On Offer

New Delhi: India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security.

Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) here. OALP-X round will feature 25 blocks spread over 1,91,986 square kilometers in 13 sedimentary basins.

13 of the blocks are in the offshore area. In the previous nine rounds, 3.78 lakh sq km area was offered.

The last bid round, OALP-IX, was the largest before the current bid round.