Special CBM Bid Round-2022
Source: www.gulfoilandgas.com 10/10/2022, Location: Asia
Government announces the offer of 16 CBM Blocks under Open Acreage Licensing Policy ("OALP") through International Competitive Bidding ("ICB").
Salient Features of Special CBM Bid Round-2022
Prior experience in Oil and Gas sector NOT mandatory.
All Blocks in Category-III basin i.e. no revenue sharing till windfall gain.
Single state carving out of block for administrative ease (each block falls within one state only).
Single License for Conventional & Un-conventional Hydrocarbons.
Full Marketing and Pricing Freedom for Gas produced.
Exploration allowed during entire contract period.
No overlap of CBM Blocks with existing/proposed Coal Blocks/mines.
100% participation from foreign companies/Joint ventures.
Availability of Gas Pipeline infrastructure around the Blocks.