The centre has launched the third round of bids under the Open Acreage Licensing Programme.
In this bid round, 23 blocks, with an area of approximately 32,000 sq km, are being offered for bidding, an official statement said.
Of the blocks on offer, 18 blocks are based on Expressions of Interest submitted by the bidders and 5 blocks were Coal Bed Methane (CBM) which have been carved out by the Government suo motu with a view to augment Coal Bed Methane exploration and production in the country.
Bids will open from February 11, 2019 and would continue till April 10, 2019.
The blocks are spread across 12 sedimentary basins. 23 blocks are on offer under OALP-III including 19 Onland blocks including 5 CBM blocks, 3 Shallow Water blocks and 1 Deep Water block.
“It is expected that OALP Round III would generate immediate exploration work commitment of around $ 600-700 million,” the statement said.