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.

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