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Oil & Gas Technical Compendium

India set to hold third oil, gas block auction under new policy

India announced a third round of auctions in a year for oil and gas blocks under a more liberal policy, targeting to raise as much as $700 million in exploration investments as the country seeks to cut its reliance on imports.The South Asian nation is offering 23 oil and gas blocks, including 5 coal-bed methane areas, under the Open Acreage Licensing Program, according to an oil ministry statement on Sunday. Bidding for blocks in the latest auction will start from Monday and close on April 10. The blocks on offer cover about 32,000 km2 and include 10 onshore areas and one deep-water block."In our assessment, there is going to be a significant increase in energy demand over the next 20 years and oil and gas are likely to remain prominent fue.....

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