ONGC wins 11 Oil Blocks in Ninth Auction Round
18 Apr 2025
2 Min Read
CW Team
State-run ONGC has emerged as the top performer in OALP Round IX, winning 11 blocks independently and four more in partnerships, bringing its total to 15 blocks out of the 28 offered.
The latest auction, under the Open Acreage Licensing Policy, saw participation from public and private firms across 136,596 square kilometres of oil and gas fields. These include over 13,800 square kilometres of onshore blocks, 26,600 square kilometres of shallow-water zones, and 96,000 square kilometres of ultra-deepwater areas.
Cairn, the private exploration firm, bid for all 28 blocks and secured seven. Meanwhile, BP, the UK-based energy major, won its first Indian exploration block in partnership with ONGC and Reliance Industries. The consortium acquired block GS-OSHP-2022/2 in the Saurashtra basin, with a stake split of ONGC (40 per cent), Reliance (30 per cent) and BP (30 per cent).
Earlier this year, BP also won the bid to operate the Mumbai High field, a key ONGC asset.
The government also launched a public consultation portal for the Draft Petroleum and Natural Gas Rules, 2025. These rules cover lease renewals, site restoration, unitisation, dispute resolution, and decarbonisation. The draft aims to operationalise new provisions under the Oilfields Regulation and Development Act.
Petroleum Minister Hardeep Singh Puri said the country accounts for a quarter of the expected global energy demand growth over the next two decades. He added that 76 per cent of India鈥檚 current exploration area was opened post-2014.
Source: Business Standard
State-run ONGC has emerged as the top performer in OALP Round IX, winning 11 blocks independently and four more in partnerships, bringing its total to 15 blocks out of the 28 offered.
The latest auction, under the Open Acreage Licensing Policy, saw participation from public and private firms across 136,596 square kilometres of oil and gas fields. These include over 13,800 square kilometres of onshore blocks, 26,600 square kilometres of shallow-water zones, and 96,000 square kilometres of ultra-deepwater areas.
Cairn, the private exploration firm, bid for all 28 blocks and secured seven. Meanwhile, BP, the UK-based energy major, won its first Indian exploration block in partnership with ONGC and Reliance Industries. The consortium acquired block GS-OSHP-2022/2 in the Saurashtra basin, with a stake split of ONGC (40 per cent), Reliance (30 per cent) and BP (30 per cent).
Earlier this year, BP also won the bid to operate the Mumbai High field, a key ONGC asset.
The government also launched a public consultation portal for the Draft Petroleum and Natural Gas Rules, 2025. These rules cover lease renewals, site restoration, unitisation, dispute resolution, and decarbonisation. The draft aims to operationalise new provisions under the Oilfields Regulation and Development Act.
Petroleum Minister Hardeep Singh Puri said the country accounts for a quarter of the expected global energy demand growth over the next two decades. He added that 76 per cent of India鈥檚 current exploration area was opened post-2014.
Source: Business Standard
Next Story
India鈥檚 Maha Kumbh of Road Construction
The RAHSTA Forum 2025, held on June 25 at Courtyard by Marriott, Mumbai, delivered powerful insights and dialogue on the future of India鈥檚 roads and highways sector. Organised by the FIRST Construction Council, the Forum served as the curtain-raiser to the much-anticipated RAHSTA Expo 2025, set to take place on 3rd and 4th September at the Jio Convention Centre, Mumbai.Union Minister of Roads Transport & Highways Shri Nitin Gadkari, while appreciating the efforts of FIRST Construction Council and ASAPP Info Global Group, commended the awards which recognise excellence across various..
Next Story
Built to Last, Designed to Impress
The construction and interior design industries stand at the confluence of functionality and aesthetics, where innovation powers the creation of enduring structures and inspiring spaces. At the heart of this process are materials and solutions that enable architects, designers, and builders to realise their visions with precision and reliability.Featuring iconic brands such as Fevicol鈥攕ynonymous with adhesive solutions鈥擠r. Fixit, a complete waterproofing system renowned for addressing every critical area of construction, and Roff, a specialist in tile-fixing solutions, Pidilite has earned ..
Next Story
New Push to Cut India鈥檚 Air Pollution through Power Sector Reforms
In a significant stride toward environmental sustainability, Cummins India introduced CPCB IV+ compliant gensets to India on July 5, 2023, marking a paradigm shift in the power generation industry. These generators are engineered to adhere to the progressive emission norms set by the Ministry of Environment, Forest, and Climate Change. Being the first sets in the field, they have garnered praise for their remarkable achievements in emissions reduction and cutting-edge technology. Powerica, with its four-decade-long partnership with Cummins India Limited, is dedicated to consistently deliver th..
