The government has extended the bid submission deadline for India’s largest oil and gas acreage offering for the fourth time, giving investors an additional three months to participate. According to the Directorate General of Hydrocarbons (DGH), the closing date for submitting bids under the Open Acreage Licensing Policy Round X (OALP-X) has now been pushed to May 29, 2026.
While the regulator did not cite an official reason, industry sources said the extension will allow companies more time to assess the newly liberalised rules introduced after the Oilfields (Regulation and Development) Amendment Bill.
Multiple Extensions Since Launch
The tenth OALP round, launched during India Energy Week (IEW) 2025 in New Delhi, has seen repeated timeline revisions.
Originally scheduled to close in July, the deadline has since been extended several times:
July → October 31
October → December 31, 2025
December → February 18, 2026
Now → May 29, 2026
However, deadlines for the fourth Discovered Small Field (DSF) bid round and the special coal-bed methane (CBM) round remain unchanged at February 18, 2026.
Largest Acreage on Offer So Far
OALP-X represents the biggest exploration offering to date. The government has put 25 blocks covering nearly 191,986 square kilometres up for bidding.
The acreage includes:
*6 onshore blocks
*6 shallow-water blocks
*1 deepwater block
*12 ultra-deepwater blocks
These blocks are spread across thirteen sedimentary basins, offering significant opportunities for hydrocarbon exploration and production. Notably, four blocks spanning 47,058 sq km in the Andaman basin are being positioned as high-potential assets. Oil Minister Hardeep Singh Puri has highlighted the basin’s prospects, comparing it with Guyana, one of the world’s most promising recent exploration hotspots.
Aim: Boost Domestic Production, Cut Import Bill
Through larger auctions and policy reforms, the government aims to ramp up domestic oil and gas output. Higher local production could help reduce India’s hefty $220 billion annual oil import bill and strengthen energy security. The blocks on offer will support exploration and production of crude oil and natural gas—critical for fuels, power generation, fertiliser manufacturing, CNG transport, and household cooking needs. For context, the previous nine rounds together offered 3.78 lakh sq km, while OALP-IX had made available 1.36 lakh sq km across 28 blocks.
Liberalised Policy to Attract Investors
India introduced OALP in 2016 under the broader Hydrocarbon Exploration and Licensing Policy (HELP). The reform shifted away from the earlier system where the government identified blocks, allowing companies to propose and explore any available area.
Key incentives under HELP include:
*Reduced royalty rates
*Concessions for early production
*No oil cess
*Full exploration rights for the contract duration
*Marketing and pricing freedom
Additionally, firms that identify areas receive a five-point bidding advantage, encouraging proactive exploration.
Past Rounds See Strong Participation
Recent rounds have drawn a mix of public and private sector players.
In OALP-IX:
*ONGC won 11 blocks independently and three with Oil India Ltd (OIL)
*Vedanta secured seven blocks
*OIL won six blocks
*Reliance Industries and BP partnered with ONGC for a Gujarat offshore block
Bidders compete by offering higher revenue shares to the government and committing to robust exploration programmes. Earlier, Vedanta had emerged as a dominant player, securing 41 out of 55 blocks in the first OALP round.
Outlook
As reported by thehindubusinessline.com, by extending the bidding window once again, the government hopes to attract broader participation and maximise investment under the latest regulatory framework. If successful, OALP-X could unlock fresh discoveries and accelerate India’s long-term goal of energy self-reliance.
