Oil and Natural Gas Corporation (ONGC) and its partners emerged as major winners in the ninth round of the Open Acreage Licensing Policy (OALP-IX), securing 15 of the 28 oil and gas exploration blocks offered. ONGC independently bagged 11 blocks and won four more in collaboration with partners. Vedanta, which had submitted bids for all 28 blocks on offer, won seven.

In a strategic consortium, ONGC (40 percent), Reliance Industries (30 percent), and bp (30 percent) signed a contract for block GS-OSHP-2022/2 located in the Saurashtra Basin. Oil India (OIL) secured six blocks independently and won three more in partnership with ONGC. Contracts for the awarded blocks were signed in the presence of Oil Minister Hardeep Singh Puri.

OALP-IX offered 28 blocks across 1.36 lakh sq. km, including nine onshore, eight shallow-water, and 11 ultra-deepwater blocks across eight sedimentary basins. The bidding process was competitive, with four blocks receiving three bids each and the remaining receiving two. Sun Petrochemicals also participated, bidding for seven areas. Bidders were awarded blocks based on the highest revenue share offered to the government and the strength of their proposed work programmes.

The government has launched OALP-X in February, offering 25 new blocks across approx. 1,91,986.21 sq. km, with bidding closing on 31 July.