India’s Hydrocarbon Outlook 2024 24 A Report on Exploration & Production Activities OALP Bid Round Launch Year Blocks Awarded OALP-I 19-01-2018 55 OALP-II 07-01-2019 14 OALP-III 10-02-2019 18 OALP-IV 27-08-2019 7 OALP-V 14-01-2020 11 OALP-VI 06-08-2021 21 OALP-VII 16-12-2021 8 OALP-VIII 07-07-2022 10 Total - 144 Further details about HELP can be found in Chapter-6. Investment made under contract Regime (PSC & RSC) in USD Million (As of 31-03-2024) India, a country with a booming economy and ever-increasing energy needs, prioritizes investment in hydrocarbon Exploration and Development (E&P). These investments are vital for guaranteeing the nation’s energy security and fulfilling its future fuel demands. The government has introduced policy reforms The domestic crude oil/gas production in the country consists of oil/gas production from Nomination Blocks/ Fields under ONGC and OIL The discovered fields and producing Pre-NELP, NELP blocks under the Production Sharing Contract (PSC) regime The contract areas (CAs) Awarded under DSF (Revenue sharing contracts) to attract investments and make the sector more appealing. This includes opening up vast unexplored sedimentary basins and offering globally competitive terms to investors. As a result, E&P companies are participating in exploration and development activities, infusing much-needed capital into the sector. The investment made under Contract Regime (PSC+RSC) is as below: Table 1.6: OALP Bid Round details
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