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10th Bidding Round for Oil & Gas Blocks Begins This Week
Financial Express Hyderabad
|February 11, 2025
The government is expected to launch the tenth round of the open acreage licensing programme for oil and gas exploration this week,
Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday, ahead of the India Energy Week scheduled to take place from February 11 to 14. The round will see a focus on no-go areas and offshore hydrocarbon blocks.
Moreover, the contracts for the upcoming 10th round are expected to be signed as per the reforms mentioned in the Oilfields (Regulation and Development) Amendment Bill. The Bill had proposed to broaden the definition of mineral oils, which previously included only petroleum and natural gas, and introduced the concept of a petroleum lease. This lease covers various activities related to mineral oils, including exploration, prospecting, production, making them merchantable, and disposal.
This story is from the February 11, 2025 edition of Financial Express Hyderabad.
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