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| Edited By: |Source: |Updated: Mar 18, 2018, 02:17 AM IST
India has received 74 bids for 33 oil and gas exploration blocks in the ninth licensing round, a government source told reporters on Monday.
He also said there were no bids for one block in the latest round. Results of the auctions will be announced later on Monday.
The blocks are being offered under India's New Exploration and Licensing Policy (NELP) which was launched in 1999 offering more attractive terms to boost higher investment in the oil and gas sector of Asia's third-largest oil consumer.
India expects investments of $14 billion in its ninth licensing round which includes eight deepwater blocks, seven shallow water and 19 onshore.
In its previous eight rounds of auctions New Delhi has awarded 235 blocks.
