The government is likely to award contracts for the first round of oil
and gas auctions under its Open Acreage Licensing Policy
(OALP) in the first week of July.
Anil Agarwal’s Vedanta, Oil
India (OIL) and Oil
and Natural Gas Corporation (ONGC) would be getting blocks. During the round, Vedanta
managed to take 40 of the 55 on offer; OIL
and ONGC got the remaining blocks. ONGC, despite bidding for 30 blocks, got less than OIL, said sources.
The 55 blocks are spread across 10 sedimentary basins, covering 60,000 sq km.
The second round of Discovered Small Field (DSF) auctions will be held by the end of July. Earlier, there were reports that it could not start before September due to some technical issues.
“The bidding process will kick off by July-end. There is no delay in the process,” said an official. In February, the Union Cabinet had cleared 60 DSFs with an estimated 195 million tonnes of oil
“The Directorate General of Hydrocarbons has already approved 11 field development plans
(FDP) of DSF-I and are expecting other players to also submit these soon. We expect to start production in at least three fields by the end of this year,” said another official. The companies that have given FDPs are Hindustan Oil
Exploration Company, Sun Petrochemicals, South Asia Consultancy, Kei Rsos Petroleum, Ramayana Ispat, Nippon Power
and Mahendra Infratech.
The government hopes to reduce import by 10 per cent by 2022. Currently, India is the third largest consumer of oil
and petroleum products, after America and China. The National Data Repository that the government had launched also got positive response from the industry. The repository has so far got 277 users.