State companies dominate Indian bidding

State-owned companies dominated the second and third rounds of bidding for oil and gas revenue-sharing contracts under India’s open-acreage licensing policy (OALP).

Jul 3rd, 2019

State-owned companies dominated the second and third rounds of bidding for oil and gas revenue-sharing contracts under India’s open-acreage licensing policy (OALP).

The only high bid submitted by nonstate companies came from a combine of BP and Reliance Industries Ltd. for a Round 2 block in the Krishna-Godavari basin (OGJ Online, Jan. 7, 2019).

Oil India Ltd. dominated the second round with six high bids. It was followed by Vedanta Ltd. with five high bids, and Oil & Natural Gas Corp. and Indian Oil Corp. Ltd. with one each.

ONGC led Round 3 with seven high bids, followed by OIL with six and Vedanta with five (OGJ Online, Feb. 11, 2019).

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