Oil India Limited (OIL) is planning to bid solo for oil and gas blocks, according to company officials in the know. This decision has been taken for bids in the upcoming sixth and seventh auction rounds under the Open Acreage Licensing Policy (OALP) for which the last date for submitting expressions of interest is November 30.
This is to be seen in the light of reports saying that sister PSU, ONGC Limited, would be jointly bidding with American energy giant ExxonMobil. In the fifth OALP round, the company emerged the sole bidder for four blocks. ONGC emerged the sole bidder in six of the seven blocks it bid for.
The company has completed the seismic acquisition in North Bank OALP Block in Assam’s Dhemaji district to become the first operator to do so.
Work on at Andamans
Oil India Limited has also begun offshore operations in Andaman Shallow Waters with the deployment of a multi-purpose seismic data acquisition vessel.
The company plans to drill at 66 wells in OALP blocks in the next 3-4 years and has been awarded 21 blocks spread over Assam and Assam-Arakan basin, Rajasthan, Mahanadi Onland, and Andamans and Kerala-Konkan Offshore basins.
Source: Energy Infra Post
