Exploration & Production

Vedanta dominates India’s first OALP bid round

Vedanta won 41 out of 55 blocks on offer in India’s first bid round under its Open Acreage Licensing Policy Vedanta won 41 out of 55 blocks on offer in India’s first bid round under its Open Acreage Licensing Policy.
By Andrew Walker 4 September 2018 0 32404
Block in India's first OALP round

Vedanta won 41 out of 55 blocks on offer in India’s first bid round under its Open Acreage Licensing Policy, which allowed companies to define the blocks they want to explore. The aggregate bid cost for the blocks was $550 million and represents a major commitment to India’s upstream oil and gas sector.

Oil and Natural Gas Corp. was the round’s biggest loser, having bid for 25 blocks on its own and another 12 as part of JVs and consortiums, but only winning two. Oil India...