Oil & gas block auction deadline extended for fourth time, to May 29

New Delhi: The government has extended the deadline for bid submissions under the 10th oil and gas exploration licensing round for the fourth time in a year, as it seeks wider participation.

The Directorate General of Hydrocarbons (DGH), the oil ministry's upstream regulator that conducts licensing rounds, has set May 29 as the new deadline for the 10th round under the Open Acreage Licensing Policy (OALP), pushing it back from February 18. The DGH did not cite any reason for the extension, making this likely the longest open licensing round so far.

The round was launched in February last year alongside India Energy Week, the oil ministry's flagship annual industry event. Since then, the legal framework governing exploration and production has been amended to make it more investor-friendly. The government is keen to attract foreign investors, who have largely stayed away from earlier OALP rounds. However, the repeated extensions suggest potential bidders need more time to assess both the revised rules and the exploratory data on offer.


A total of 25 blocks, including 19 offshore, are being offered in this round. India needs foreign capital and technical expertise to revive a sector where domestic output has been declining for years, increasing dependence on imports.