India's Hydrocarbon Outlook – 2022-2023

134 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL b) OALP VIII and IX Bid Rounds The Indian government has recently initiated the eighth round of the Open Acreage Licensing Policy (OALP) bidding process, which was launched on the 7th of July 2022. This round offers ten blocks, out of which eight are located in offshore regions, encompassing an area of approximately 34,364 square kilometers (offshore area ~32,118 sq. km.). Interested parties have until the 16 th of May 2023 to submit their bids for the OALP Bid Round-VIII. The government intends to award the acreage area of around 34,364 sq. km in ten blocks under the OALP Bid Round-VIII by 2023-24. Work programme in offshore blocks awarded under OALP 31 offshore blocks awarded in OALP I to VII m 24 Shallow Water; 2 Deepwater and 5 Ultra Deepwater m Acreage awarded: 87,300+ Sq. Km Work Programme Commitment: m 2D Seismic: 17,880 LKM m 3D Seismic: 24,863 SKM m Exploratory Wells: 91 87,300+ Sq. Km Across 31 Blocks Cat I: 18 Cat II: 12 Cat III: 1 USD 934 Mn acreage for exploration Investment Committed in Offshore OALP Bid Round-VIII 7 8 32+ Basins Blocks SKM area