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India Auctions Record Acreage For Oil And Gas Exploration

India today put on auction a record exploration acreage for prospecting of oil and gas, from 55 blocks, in the first bid round in eight years.

Each block on offer has been carved out by prospective bidders under the open acreage licensing (OAL) of the new Hydrocarbon Exploration and Licensing Policy (HELP), Oil Minister Dharmendra Pradhan said launching the round.

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