New Delhi [India], March 30 (ANI): As India moves to unlock vast frontiers for energy exploration across land and sea, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Monday said round 11 of India's Open Acreage Licensing Policy (OALP) has been launched.

Highlighting the nation's energy journey, Puri in a post on X said, "With OALP Round-XI now live, we unlock vast frontiers beneath our land and seas--powering growth, resilience, and self-reliance. Round-X (~25 blocks; ~182,589 sq km) and Round-XI (~80,228 sq km) are now on offer - together unlocking ~262,817 sq km for exploration."

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The Union Minister described the launch as a decisive step aligned with the vision of Prime Minister Narendra Modi under the Samudra Manthan initiative. "This is a decisive step aligned with the vision of Hon'ble Prime Minister Sh @narendramodi Ji under #SamudraManthan: fast-tracking bidding, expanding acreage, and strengthening India's energy security.The quest to discover India's hidden energy wealth continues."

Earlier in December, India marked a transformative milestone in its energy sector by offering 50 new exploration and production (E&P) blocks across oil, gas and coal bed methane (CBM) assets, signalling a renewed push to unlock domestic hydrocarbon potential and strengthen energy security, said Puri.

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In a social media post on X, Puri said the move reflected a "transformative milestone" under the leadership of Prime Minister Narendra Modi and underscored India's openness to global and domestic investors.

"We are offering 50 new E&P blocks across Open Acreage Licensing Policy (OALP-X): 25 blocks, Discovered Small Field (DSF-IV): 55 fields across 9 contract areas/blocks. Special CBM Bid Rounds 2025 and 2026: 3 blocks (2025) & 13 blocks (2026)," Petroleum Minister said in his post.

As per the information shared by him, under the Open Acreage Licensing Policy, 25 blocks covering about 1.83 lakh square kilometres were on offer, comprising six onland blocks, six in shallow water, one deepwater block and 12 ultra-deepwater blocks.

"Main features of these blocks are exploration rights retained throughout the contract duration; Revenue share at LRP for initial 5-7 years in Cat-I basins; No revenue sharing in Cat-II/III until windfall gains; Graded reduced royalty for offshore; Swapping of work programme allowed," he said.

"The quest to unlock the potential of India's sedimentary basins gains a new thrust and momentum."

In parallel, the Discovered Small Field (DSF) Bid Round-IV includes 55 discoveries spread across nine contract areas, aimed at accelerating the journey from discovery to production. (ANI)

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