Exploration & Production

India launches second small field licensing round

India launched its second bidding round for discovered small fields on Thursday and has put 25 blocks up for auction
By Staff reporter 10 August 2018 0 32102

India launched its second bidding round for discovered small fields on Thursday and has put 25 blocks up for auction, according to The Economic Times.

The government is expecting INR 450 billion ($6.53 billion) in revenue over the life of the fields. The 25 blocks on offer contain 59 discoveries spread over 300,000 hectares. Bidding closes on 18 December, and contracts will be awarded in January 2019.

In last year’s round, 134 bids were received for 34 blocks out of the 46 on offer....