Exploration & Production

Vedanta to win as many as 40 blocks in Indian acreage auction

Vedanta is expected to secure as many as 40 oil and gas exploration blocks in India’s first open acreage auction
By Staff reporter 8 August 2018 0 32073

Indian company Vedanta is expected to secure as many as 40 oil and gas exploration blocks in India’s first open acreage auction, according to official sources cited by Business Standard.

The company’s oil and gas arm, Cairn India, bid for all 55 blocks on offer compared with 37 bids by state oil and gas producer Oil and Natural Gas Corp. (ONGC).

Government officials will decide which blocks are awarded. Vedanta was the sole bidder for two blocks but is in competition...