ONGC wins 7 oil blocks, OIL 4 in latest bid round

October 22, 2020 14:39

State-owned Oil and Natural Gas Corp (ONGC) has won seven out of the 11 oil and gas exploration blocks offered for bidding in the latest licensing round, upstream regulator Directorate General of Hydrocarbons said Thursday.

Oil India Ltd won the remaining four blocks, it said. The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy. A total of 12 bids -- seven bids by ONGCand four by Oil India Ltd (OIL) -- were received for the 11 blocks on offer at the close of bidding on June 30. Invenire Petrodyne Ltd was the only private bidder for one block.

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