India’s Hydrocarbon Outlook 2024 161 A Report on Exploration & Production Activities Basin No. of Blocks Contract Area Awarded Cauvery 8 19609 Cuddapah 1 3306 Ganga-Punjab 3 2428 Himalayan Foreland 1 666 Kerala Konkan 3 11350 Krishna Godavari 9 15335 Kutch 7 10967 Mahanadi 8 28142 Mumbai Offshore 9 23272 Narmada 1 2999 Rajasthan 15 19482 Satpura-South RewaDamodar 1 906 Saurashtra 5 9949 Vindhyan 5 13260 Total 144 242056 OALP Bid Round-VIII: OALP Bid Round-VIII was launched on 7th July 2022, offering 10 exploration blocks comprising the area of 34,364.53 sq. km spread over 9 Sedimentary Basins. Two (2) blocks are in Onland (area 2,246.15 sq. km), Four (4) blocks are in Shallow Water (area 17,345.99 sq. km), two (2) blocks are in Deep Water (area 3,855.41 sq. km) and Two (2) blocks are in Ultra-deep Water (area 10,916.98 sq. km) areas. Bid Submission of OALP Round-VIII was closed on 5th July 2023. Total 13 Bids received for 10 Blocks. All The blocks were awarded to respective bidders in month of Dec-2023 and contract signing was held on 03.01.2024. A total of Seven (7) Blocks were awarded to M/s. ONGC (Oil and Natural Gas Corporation) and One (1) Block to M/s. Oil India Limited. The consortium of Reliance Industries (RIL) and BP as well as Sun Petrochemicals awarded a block each. Further, four (4) blocks covering an area of 7,553.73 sq. km are falling in Category-I, three (3) blocks covering an area of 13,225.58 sq. km in Category-II and three (3) blocks covering an area of 13,585.19 sq. km in Category-III Basins. Committed Investment in these 10 Blocks is around 233.65 MMSUD. Committed Exploration Work Programme and Committed Investment (OALP-I to OALP-VIII Contractor of the 144 blocks in Eight rounds of OALP have committed 51,725 LKM of 2D Seismic Survey and 66,845 sq. km of 3D Seismic survey, 499 number of Exploratory wells along with 290 core analysis to establish shale resources. The committed investment in these blocks is around 3.37 USD billion. Summary of Committed Work Programme and Investment is as underBidding Round Completed in FY 2023-24:
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