India offers 26 oil, gas blocks in mega offshore round
The HinduIndia is offering 26 blocks or areas for finding and producing oil and gas in a mega offshore bid round, upstream regulator Directorate General of Hydrocarbons said on Tuesday. The "government announces the offer of 26 blocks covering an area of approximately 2.23 lakh square kilometers for exploration and development through international competitive bidding," the DGH said without giving timelines for bidding. DGH said the 16 CBM blocks being offered in the special bid round are spread over Madhya Pradesh, Chhattisgarh, Telangana, Maharashtra, Odisha, Jharkhand and West Bengal. Besides revenue sharing contract model, HELP provides attractive and liberal terms like reduced royalty rates, no oil cess, no revenue share bidding for blocks in less prospective basins, marketing and pricing freedom, round-the-year bidding, freedom to investors for carving out blocks of their interest, a single licence to cover both conventional and unconventional hydrocarbon resources, among others.
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India offers 8 oil, gas blocks for bidding in latest round
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