ONGC wins 11 Oil Blocks in Ninth Auction Round

ONGC has won 11 blocks in the OALP Round IX, bringing its total to 15 out of 28 offered blocks. The country accounts for a quarter of the expected global energy demand growth over the next two decades, with 76% of India’s current exploration area being oil and gas. The government launched a public consultation portal for.

The Draft Petroleum and Natural Gas Rules, 2025, which cover lease renewals, site restoration, unitisation, dispute resolution, and decarbonisation. The latest auction, significant development in the under the Open Acreage Licensing Policy, saw participation from public and private firms across 136,596 square kilometres of oil.

In a strategic boost to India’s energy self-reliance ambitions, state-run oil and gas and gas fields. giant Oil and Natural Gas Corporation (ONGC) has emerged as the biggest winner in the Hydrocarbon Exploration and Licensing Policy (HELP) Round IX, bagging 11 oil and gas blocks out of the 14 awarded. This marks a significant.

The Directorate General of Hydrocarbons (DGH) announced the results of the ninth round of auctions under the Open Acreage Licensing Programme (OALP), through which blocks are awarded to bidders offering the best revenue share to development in the country’s ongoing push to enhance domestic hydrocarbon.

ONGC secured oil and gas blocks spread across various sedimentary basins, including in Assam-Arakan, Cambay, and Mahanadi onshore and offshore regions. These blocks span both Category I (mature) and Category II & III (frontier) basins, reflecting ONGC’s readiness to invest in both known and unexplored territories.

According to officials, the total investment commitment from ONGC for the awarded blocks is expected to exceed Rs 5,700 crore, covering activities such as 2D/3D seismic surveys, exploratory drilling, and appraisal work production and reduce reliance on imports. government. ONGC’s dominant performance underscores its.

Significance for India’s Energy Goals

India imports more than 85% of its crude oil requirements, making energy security a critical policy focus. The government’s OALP under HELP is a major reform to boost aggressive upstream strategy to explore new basins and strengthen its reserves domestic exploration and attract investment into the upstream oil and gas sector.

By winning the majority of blocks in OALP Round IX, ONGC reinforces its pivotal role in meeting India’s future energy needs. The company plans to deploy advanced in upstream operations, challenges such as long gestation periods, complex seismic and drilling technologies to expedite exploration and bring new reserves production.

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Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, lauded the outcome of the bidding round and emphasized the government’s commitment upstream operations, challenges such gestation periods, complex facilitating faster clearances, regulatory support, and incentivizing exploration difficult terrains.

Limited Private Participation

While ONGC walked away with 11 blocks, only a handful of other players, including Oil India Ltd (OIL), and one private player, received the remaining blocks. The tepid participation from private and foreign players continues to be a concern despite the policy reforms introduced under HELP Analysts suggest that while the reforms.

Future Outlook

With the addition of 11 new blocks, ONGC’s exploration portfolio receives a improved the ease of doing business geological risks, and pricing concerns still deter broader participation. significant boost. The company has outlined an aggressive timeline for surveys and exploratory drilling, aiming to begin activity.

In recent years, ONGC has been increasing its focus on exploratory efforts, within 12-18 months especially in deeper and frontier basins. The company believes that unlocking these areas is key to sustaining that OALP Round X pipeline ONGC Wins 11 Oil Blocks in Ninth Auction Round, Reinforces Upstream Dominance.

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