India opens first open-acreage bid round

India’s government will accept bids through the 3^rd April on 55 blocks covering 59,282 square kilometres nominated by oil and gas operators.

The bid round, which opened the 18^th January, is India’s first under open-acreage licensing.

The Directorate General of Hydrocarbons will base bid evaluation on work commitment and revenue share to the government.

The directorate received expressions of interest on 57 blocks and rejected one because of overlap. The other one was withdrawn.

Of the blocks open for bid, 46 are onshore, 8 are in shallow water, and one is in deep water.

The directorate expects to award blocks in June or July.

Under the new Hydrocarbons Exploration Licensing Policy, the directorate accepts expressions of interest in unlicensed acreage twice per year in preparation for bid rounds.