Besides Reliance-BP, Vedanta and ONGC, Oil India Ltd has bid for 15 blocks. Reliance and BP had joined hands in February 2011, with BP picking up a 30 per cent stake in Reliance’s 21 oil and gas exploration blocks for $7.2 billion. Bidding was also held for 18 oil and gas blocks and 5 coal-bed methane (CBM) blocks under OALP round III. Besides Reliance-BP, Vedanta and ONGC, Oil India Ltd has bid for 15 blocks. The Centre expects investments of more than Rs 1 lakh crore from the first two rounds of the oil exploration policy.

Source: The Telegraph May 16, 2019 19:18 UTC