Oil and Natural Gas Corporation (ONGC) has won 18 out of the 21 areas offered for finding and producing oil and gas in the sixth bid round under Open Acreage Licensing Policy. The 21 blocks or areas offered for exploration and production of oil and gas in Open Acreage Licensing Policy (OALP) Bid Round-VI attracted just 3 bidders at the close of bidding on October 6, 2021. Of the 21 blocks on offer, 18 got a single bid and the remaining 3 blocks had two bidders.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
