India is likely to offer areas classified as ‘no-go’ areas in the tenth round of bidding for exploring and producing oil and gas in early 2025, a top oil ministry official said on Thursday.
Bids for 28 oil and gas blocks offered in the ninth Open Acreage Licensing Policy (OALP) round closes on September 21 and the 10th round is in works, the official, speaking on condition of anonymity, told reporters here.
OALP-X round will happen after the Parliament approves in the ensuing winter session amendments to the Oilfields (Regulation and Development) Act (ORDA) of 1948 to expand definition of mineral oils to include any naturally occurring hydrocarbon, coal-bed methane and shale gas/oil. The amendment also replaces mining lease with petroleum lease and decriminalises certain offences.
“We hope that the amendments will be approved in the winter session of Parliament (likely in November/December). The changes are expected to bring confidence for the potential bidders for OALP X exploratio
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