Open Acreage Licensing Policy (OALP) Bid Round-II under HELP

Following the contract signing of 55 Blocks under OALP Bid Round-I, Government has launched OALP Bid Round-II on 07th January 2019 offering 14 Blocks under Petroleum Operation Contract for International Competitive Bidding.

Features of OALP Bid Round –II are as quoted below:

  • 14 Blocks spread over 7 Sedimentary Basins, 4 States and offshore areas covering 29,233 Sq. Km of area
  • Out of 14 Blocks, 8 are in Onland, 5 in Shallow Water and 1 in Ultra deep water
  • Spread over Category-I and Category-II Basins
  • 10 Blocks are based on EoI submitted by the bidders and 4 Blocks have been carved out by the DGH
  • Adopts all features of HELP - reduced royalty rates, no Oil Cess, uniform licensing system, marketing and pricing freedom, Revenue Sharing Model, Exploration rights on all retained area for full contract life etc.
Notice Inviting Offer (NIO) New Model Revenue Sharing Contract (MRSC) New OALP Procedure New Geoscientific Information New
Timelines

07th January, 2019

Launch of NIO and MRSC of OALP Bid Round-II

08th January, 2019

Bid Submission Opening date

12th March, 2019

Bid Submission Closing