(ET)
India’s upstream petroleum regulator Directorate General of Hydrocarbons (DGH) has received 51 Expressions of Interest (EoI) since July for various fields being bid out under the mega Hydrocarbon Exploration Licensing Policy (HELP) auctions.
Also, DGH plans to hold an interactive session led by oil minister Dharmendra Pradhan with Exploration and Production companies, oil and gas service providers, financial institutions and private equity firms in Mumbai on 26 October, DGH said in a notice. The session will also include discussions on upcoming Discovered Small Field Bid Round – II and upcoming Production Enhancement Contracts (PEC) policy.
The oil ministry had made the auction live on 1 July, offering over 85 percent of the country’s 3.14 million square kilometres of hydrocarbon sedimentary area under a new bidding mechanism – Open Acreage Licensing Policy (OALP) — and a revamped Hydrocarbon Exploration Licensing Policy (HELP).
The Government has launched the forward looking Open Acreage Licensing (OAL) Programme in June 2017 under the market-friendly HELP. “This programme is witnessing an encouraging response from the industry. So far, 51 EOIs have been received covering an area of approximately 60,000 square Km,” DGH said.
