The government has extended the deadline for the 10th Oil and Gas (O&G) exploration licensing round to December 31, aiming to encourage more participation.
This round, conducted under the Open Acreage Licensing Policy (OALP), has seen multiple extensions since its launch in February. The Directorate General of Hydrocarbons (DGH) has not cited a reason for the latest delay, but the move is seen as an effort to attract more bidders, particularly foreign companies. The round includes 25 blocks, 19 of which are offshore, and is part of India's strategy to reduce its growing dependence on oil and gas imports.
Despite previous challenges, including regulatory changes and delayed contract finalisation, the government hopes this round will attract significant investments and reverse the country's declining oil and gas output.