Acreages & JVs under new regimes

In the E&P sector, in India, OIL has signed Production Sharing Contracts (PSCs) and Revenue Sharing Contracts (RSCs) to expand its footprint in multiple blocks. Besides operating on its own, OIL has collaborated with private companies like GeoPetrol, Geo-Enpro, JEPL and farmed out participating interests to ONGC, GAIL, IOCL, BPRL, NRL, AHECL to optimize knowledge and risk sharing opportunities. Under the Hydrocarbon Exploration Licensing Policy (HELP) of the Government of India, OIL has participated extensively in the Open Acreage Licensing Policy (OALP) and Discovered Small Fields (DSF) bid rounds. A total of twenty-nine (29) blocks spread across six sedimentary basins in India were awarded to OIL in the OALP bid rounds. Of these, sixteen (16) blocks are in North-Eastern states, five (5) blocks each are in Rajasthan & Odisha, two (2) blocks in Andaman and one (1) block in Kerala Konkan shallow offshore. Further, OIL was awarded three (3) blocks in the DSF rounds, one (1) each in Tripura, Andhra Pradesh and Rajasthan.