Government Extends OALP-X Bid Deadline to May 29, 2026 for Fourth Time

Extended Timeline for India’s Largest Oil and Gas Acreage Offering​

The government has extended the deadline for submitting bids under the tenth round of the Open Acreage Licensing Policy, known as OALP-X, by an additional three months. The new bid submission closing date is May 29, 2026, as updated by the Directorate General of Hydrocarbons.

This marks the fourth extension for the current bid round. While no official reason was cited for the revised timeline, the extension allows potential investors more time to review the recently liberalised rules framed following the passage of the Oilfields Regulation and Development Amendment Bill.

OALP-X Launch and Previous Extensions​

OALP-X was launched in February during India Energy Week 2025 in New Delhi and was originally scheduled to close at the end of July. The deadline was subsequently extended to October 31 and later to December 31, 2025. It was then moved to February 18, 2026, before the latest extension to May 29, 2026.

In contrast, the deadlines for the fourth round of the Discovered Small Field bid round and the special coal bed methane round remain unchanged at February 18, 2026.

Scope and Scale of Blocks on Offer​

Under OALP-X, a total of 25 blocks covering approximately 191,986 square kilometres have been offered for exploration and production of oil and gas. The acreage includes six onshore blocks, six shallow water tracts, one deepwater block, and twelve ultra deepwater blocks spread across 13 sedimentary basins.

The round also includes four blocks in the Andaman basin with a combined area of 47,058 square kilometres. These blocks have been highlighted for their significant hydrocarbon potential.

This round represents the largest area ever offered for exploration and production of crude oil and natural gas. In the previous nine OALP rounds, a cumulative area of 3.78 lakh square kilometres had been offered.

Comparison with Earlier Bid Rounds​

The ninth round, OALP-IX, was the largest prior to the current offering. It featured 28 blocks spanning 1.36 lakh square kilometres. That round attracted four bidders, including Oil and Natural Gas Corporation, Oil India Ltd, and Vedanta Ltd.

OALP-IX also marked the first instance of a joint bid by Reliance Industries Ltd and BP Plc along with ONGC for a block in the Gujarat offshore area.

In that round, ONGC secured 11 blocks independently and three more in partnership with OIL. Vedanta won seven blocks, while OIL secured six.

Policy Framework and Bidding Mechanism​

The Open Acreage Licensing Policy was introduced in 2016 as part of the Hydrocarbon Exploration and Licensing Policy framework. The policy shifted the system from government identified blocks to a model where explorers can identify and propose areas for prospecting, excluding those already under contract.

Key features of the policy include reduced royalty rates, concessional royalties for early commercial production, removal of oil cess, exploration rights across the full contract life, and freedom in marketing and pricing of oil and gas.

Blocks are awarded based on the revenue share offered to the government and the work programme committed by the bidder. Areas identified by explorers are pooled and offered for bidding twice a year, with the identifying firm receiving a five point advantage.

Push to Boost Domestic Production​

By opening up larger exploration acreage, the government aims to increase domestic oil and gas production and reduce dependence on imports. India’s annual oil import bill stands at about USD 220 billion.

In the very first OALP round, Vedanta secured 41 of the 55 blocks on offer and added another 10 areas in subsequent rounds. Since then, state owned companies have dominated most of the bid rounds.

The extended deadline for OALP-X is expected to give prospective bidders additional time to assess the policy framework and the scale of opportunities on offer under India’s largest hydrocarbon exploration round to date.