Ministry of Petroleum and Natural Gas inked contracts for seven blocks, awarded under Open Acreage Licensing Programme (OALP) Bid Round - IV. The government had launched the programme in August 2019. The Bid Round-IV offered the blocks under International Competitive Bidding (ICB) process. After evaluation, the blocks were approved for award to ONGC, for which the revenue sharing contracts were signed. The blocks are spread across three sedimentary basins. Speaking on the occasion, Dharmendra Debendra Pradhan, Minister of Petroleum and Natural Gas said, "The government has recently released the report of the task force on National Infrastructure Pipeline for 2019-25 which lays down a roadmap for Rs 102 trillion worth of investments. The energy sector will comprise about 24 per cent of the projected capital expenditure in infrastructure."
