Government extends oil block bid deadline to March 30

The government has extended the time for submitting bids in the eighth exploration licensing round to March 30, yet another extension for the auction that had an original bid submission deadline of September 6, according to the Directorate General of Hydrocarbons (DGH).

The government launched the eighth bidding round under the open acreage licensing policy (OALP) on July 7. DGH didn't assign any reason for the extension. In the past, extensions have been given in the hope of attracting more bidders.

In the eighth round, 10 oil and gas blocks have been offered. In the first seven rounds, 134 blocks have been awarded.