Oil India Limited, India’s second-largest National Exploration and Production (E&P), has announced the commencement of exploration activities including seismic survey data acquisition in Rajasthan’s Siyasar block RJ-ONHP-2017/9 won under OALP-I round.
The block falls under Bikaner and Ganganagar District of Rajasthan. With this, OIL became the first operator to begin the exploration activities under the committed work programme (CWP) in an OALP regime block in the country.
The Ministry of Petroleum and Natural Gas has undertaken wide gamut of path-breaking reforms in the past five years in the E&P sector including Open Acreage Licensing Policy along with the National Data Repository (NDR) being launched in June 2017. OIL has been awarded a total of 21 exploration blocks under OALP-I, II, III and IV rounds.
The revenue-sharing contract of the above-mentioned block was signed on October 1, 2018, while the Petroleum Exploration License of the block was awarded by the state government of Rajasthan on May 27, 2019, for the period of three years.