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Oil India Wins 9 Blocks in OALP Round-IX, Acreage Jumps 85%

Synopsis:

Oil India has acquired 9 new blocks under OALP Round-IX, boosting its exploration acreage by 85% to 1.10 lakh sq km. ONGC won 15 blocks, Cairn 7, and BP joined as a new bidder with Reliance and ONGC.


Oil India has secured 9 exploration blocks under the Open Acreage Licensing Policy (OALP) Round-IX, significantly increasing its exploration footprint. With this, Oil India’s acreage has expanded by 85% from 60,000 square kilometres to 1.10 lakh square kilometres, marking a major step in its upstream expansion strategy.

Also read: CCI Approves Aster DM–Quality Care Merger; New Entity Named Aster DM Quality Care

OIL INDIA LTD

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410.756.29 (1.55 %)

Updated - 30 April 2025
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Key Takeaways

  1. Oil India’s acreage increases to 1.10 lakh sq km after OALP-IX.

  2. ONGC and partners won the highest number of blocks at 15.

  3. Cairn secured 7 blocks, while BP entered Indian E&P space.

  4. OALP-IX offered 28 blocks covering 1.36 lakh sq km.

  5. Government launches draft rules for exploration reforms.

Also read: ICICI Lombard Q4 Profit Falls 1.9%, Declares ₹7 Final Dividend

ONGC Leads With 15 Blocks; Private Players Gain Ground

State-run ONGC secured 11 blocks independently and 4 through partnerships, leading the ninth round of bidding. Cairn Energy, the only private firm to bid for all 28 blocks, walked away with 7. The United Kingdom’s BP entered the Indian upstream sector with a joint venture alongside ONGC and Reliance Industries for one block in the Saurashtra basin.

A total of 28 oil and gas blocks were auctioned in OALP Round-IX, covering 136,596 square kilometres of on-land, shallow water, and ultra-deep-water zones.

Distribution of Blocks in OALP Round-IX

Category

No. of Blocks

Total Area (sq km)

On-land

9

13,875.19

Shallow water

8

26,648.14

Ultra-deep water

11

96,073.12

Total

28

136,596.45

Policy Push With Draft Petroleum and Natural Gas Rules

The government also launched a dedicated portal to invite stakeholder feedback on the Draft Petroleum and Natural Gas Rules, 2025. These draft rules introduce new regulatory provisions aimed at operational clarity, sustainable practices, and simplified lease renewals.

The rules are expected to streamline exploration activities while ensuring compliance with the Oilfields Regulation and Development Act. With India expected to account for 25% of global energy demand growth over the next two decades, such reforms aim to bolster upstream participation.

As industry activity increases, investors continue to monitor the ONGC share price, especially given its dominant position in the OALP round. The ONGC share price could reflect the positive sentiment from increased exploration assets. In light of these developments, any movements in the ONGC share price remain key indicators of investor confidence in the domestic energy sector.

Also read: IndusInd Bank Finds ₹1,979 Crore Net Worth Hit in Derivatives Audit

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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