Politics · India Bureau
India pushes back deepwater oil, gas bidding deadline to December 10
The government has extended the submission deadline for deepwater and ultra-deepwater oil and gas exploration blocks under its 10th and 11th licensing rounds by nearly a month. The repeated postponements highlight persistent challenges in attracting investment to India's technically demanding offshore sector.
LSN India ·
The Directorate General of Hydrocarbons (DGH), the nodal agency under the Ministry of Petroleum and Natural Gas, announced that bidders for deepwater and ultra-deepwater acreage under OALP Bid Round-X and Round-XI now have until December 10, 2026, to submit offers.
The latest extension marks the seventh postponement for the 10th round and the third for the 11th round of the Open Acreage Licensing Policy (OALP), underscoring ongoing difficulties in mobilizing investor interest for India's complex offshore exploration landscape. Despite multiple policy reforms and fiscal incentives rolled out to enhance the sector's appeal, deepwater bidding rounds have consistently struggled to attract adequate participation.
While the DGH has not publicly disclosed reasons for the delay, industry observers suggest the extension may be connected to recent developments affecting investor sentiment. The deepwater blocks on offer represent significant untapped hydrocarbon potential in India's maritime zones, but require substantial capital investment and advanced technological capabilities.
The successive postponements of OALP rounds reflect the structural challenges facing India's upstream oil and gas sector, including high exploration risks, technical complexity, and evolving global energy dynamics that have dampened investor appetite for new deepwater projects.