Govt of­fers 23 gas blocks on sim­pler norms

The Times of India (New Delhi edition) - - TIMES NATION -

Greater Noida: In­dia on Sun­day used Petrotech 2019 — the do­mes­tic in­dus­try’s bi-an­nual global jam­boree — as a plat­form to show­case one of its key busi­ness re­forms by of­fer­ing 23 blocks for bid­ding un­der lib­er­alised terms, even as oil min­is­ter Dhar­men­dra Prad­han an­nounced the gov­ern­ment’s re­solve to achieve uni­ver­sal ac­cess to clean cook­ing fuel.

The of­fer of ex­plo­ration blocks was the third un­der OALP (Open Acreage Li­cens­ing Pol­icy), wherein in­vestors carve out acreages of their choice, and is ex­pected to draw in­vest­ment com­mit­ment of $700 mil­lion. The blocks in­clude five for CBM (coal bed meth­ane or gas trapped be­tween coal seams) and cover 31,000 sq km area. Bid closes on April 10. OLAP-III will run con­cur­rently with OALP-II, wherein14 blocks cov­er­ing 30,000sqkm is un­der bid­ding till March. In OALP-I, 55 blocks on 60,000-sqkm were of­fered in Jan­uary 2018 and awarded in Oc­to­ber. The round re­ceived in­vest­ment com­mit­ment of Rs 60,000 crore.

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