India Launches OALP-11: 21 New Oil, Gas Blocks Offered for Exploration

• India has initiated the 11th round of its Open Acreage Licensing Policy (OALP), making 21 new blocks available for oil and gas exploration across approximately 80,228 sq km.
• The offered blocks include 12 onland, four shallow-water, one deepwater, and four ultra-deepwater areas.
• Petroleum Minister Hardeep Singh Puri stated that OALP-XI marks a "new chapter in India’s energy journey," with OALP-10 and OALP-11 combined opening up about 262,817 sq km for exploration.
• Blocks in Category-I basins will be awarded based on the highest revenue share and committed work programs, while Category-II and III basins will prioritize work program commitments.
• The OALP regime, introduced in 2016, allows companies to select and bid for blocks, offering incentives like lower royalty rates and marketing freedom to boost domestic exploration and reduce import dependence.