India's Hydrocarbon Outlook – 2022-2023

150 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL Work Programme up to OALP Bid Round VII is 27,745 LKM of 2D Seismic, 56,443 sq. Km of 3D seismic 470 Exploratory Wells. OALP Bid Round I ,II ,III, IV,V, VI and VII (Combined) Name of Company 2D Seismic (API) (in LKM) 3D Seismic (API) (in Sq. KM) Number of Exploratory Wells Core Analysis (no of wells for shale resources) Investment (MMUSD) Vedanta Limited 10620 22972 192 190 786 Oil India Limited 8455 5884 73 53 728 ONGC Limited 6220 24633 169 35 1444 RIL-BP 5000 1514 2 3 32 SunPetro 350 2063 37 0 94 BPRL 0 174 3 1 15 GAIL 0 292 3 1 10 HOEC 0 79 2 2 3 IOCL 10 469 6 5 24 Grand Total 30655 58079 487 290 3137 This will generate investment of approximately 3.13 USD billion over next 3/4 years. d) Status of current Bid Rounds and Expression of Interest (EoI) Window OALP Bid round-VIII and IX are underway. Round-VIII was launched on 07.07.2022 with 10 Blocks (8 offshore and 2 onshore) spread over 9 Sedimentary Basins, covering an area of 34,364 Sq. Km of area (onshore 2246 sq.km and offshore 32118 sq.km) and remains open till 30.03.2023. During the Investor outreach program at Houston on 10.10.2022, Government announced Mega OALP Bid Round-IX with 26 Blocks (23 offshore and 3 onshore) spread over 9 Sedimentary Basins covering an area of 2,23,031 Sq. Km of area (onshore 3,666 sq.km and offshore 219,365 Sq. Km), bid documents subsequent to need based amendments will be released for OALP bid round-IX in due course. 12 EoIs have been received till date during XIV window cycles. The amendments in the bid documents for bid round VIII and IX is under progress. The objective of such amendments is to address the issues of existing operators which they are facing in existing contractual framework and to make them compatible for the needs of global E&P players so that the bid documents can be made globally competitive. Moreover amendments will bring in more ease of doing business in the upstream sector of India. Table 6.7: Summary of Committed Work Programme & Investment Summary of Committed Work Programme and Investment is as under-