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).
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).