The government launched the eighth bidding round in July 2022 for the exploration and development of ten blocks. Credit: Shaun Undem from Pixabay.

The Government of India has extended the deadline for the oil block bids until 31 January next year, reported Economic Times.

The earlier bid submission deadline for the eighth exploration licensing round was 30 December 2022, according to the Directorate General of Hydrocarbons (DGH).

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In July this year, the government launched the eighth bidding round under the open acreage licensing policy (OALP) for the exploration and development of ten blocks.

The original bid submission deadline was 6 September 2022.

With an area of around 36,316.5km2, these blocks are spread over nine sedimentary basins.

Two blocks are located on land, four blocks are in shallow water, two are in deep water and the other two are in ultra-deep-water areas.

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According to DGH, four blocks are placed under category one, three  under category two and three under category three.

Meanwhile, GAIL India is set to conduct exploration and production of mineral crude oil, natural gas, and coal bed methane (CBM) in 486.39km2 of Barmer-Jaisalmer block in the state of Rajasthan.

The state-run entity received the block for three plus nine months in the seventh cycle under the OALP policy, said Rajasthan Mines and Petroleum Department additional chief secretary Subodh Agarwal, reported Business Standard.

Agarwal was quoted by the news publication as saying: “The exploration licence has been issued on the Union Petroleum and Gas Ministry’s recommendation.”