India’s Oil and Natural Gas Corp. (ONGC) and Cairn India have emerged as the biggest bidders in India’s latest licensing round, according to Live Mint.
ONGC put in 41 bids in India’s first auction under the Open Acreage Licensing Policy (OALP), while Cairn sought rights to 15 areas.
Hindustan Oil Exploration Co. put in one bid.
The OALP allows companies to carve out areas they would like to explore based on openly available seismic data.
Once an expression of interest has been made for an...