On 10 February 2019, at the India Petrotech event 2019, Indian Government, launched the third round of Open Acreage Licensing Programme (OALP-III). Of the offered 23 blocks, two blocks (one onshore block and one deepwater block) are located in the Mahanadi Basin. Â Â   At the event, the Directorate General of Hydrocarbons (DGH) issued the Notice Inviting Offers (NIO) and Model Revenue Sharing Contract (MRSC) for OALP-III, offering a total of 23 blocks, including 14 onshore, three shallow water, one deepwater and five coalbed methane (CBM) blocks, covering a combined area of around 31,700 sq km. Bidders were invited to submit their bids via the e-bidding portal from 11 February 2019, until the bid closing deadline on 10 April 2019. It is understood that of the 23 blocks offered, five CBM blocks have been carved out by the Directorate General of Hydrocarbons (DGH).   The Mahanadi Basin covers an onshore area of around 15,500 sq km, shallow water offshore area of around 14,211 sq km and deepwater offshore area of around 69,789 sq km. It is understood from DGH that the Mahanadi Basin has discovered resources of around 77 MMtoe and undiscovered resources of around 574 MMtoe. The Mahanadi Basin is a pericratonic rift type basin. As of February 2019, it is understood from DGH report that so far around 65 exploratory wells (onshore: 5 and offshore: 60) have been drilled in the Mahanadi Basin. Around 6,152 km 2D onshore and 67,850 km 2D offshore, and 61,330 sq km 3D offshore seismic data has been acquired in the basin.Â    Cretaceous to Eocene and mid-Miocene to Pliocene are the targeted plays in the Mahanadi basin. It is understood that to date, there is no discovery in onshore area of the Mahanadi Basin. Earlier in 1980s, Oil India Ltd (OIL) had drilled wells in onshore area of Mahanadi Basin, having TD from 2,000 m to 3,000 m, targeting upper Mesozoic-Neogene formations. However, all onshore wells were understood as dry and subsequently plugged and abandoned. The deepwater offshore block offered in the Mahanadi Basin comprises Oil and Natural Gas Corp (ONGC)âs MDW 21 and MDW 2A discoveries of Mio-Pliocene age.Â    The table below lists the details of two blocks on offer under OALP-III in Mahanadi Basin:Â Â Â Â Â            Block name         Approx. area    (sq km)         Target depth for wells   to be drilled (m)         Minimum net worth   requirement   Â (USD million)         Requisite bid bond    (USD)         Block history             Onshore                            MN-ONHP-2018/5         2,299.74         2,500         11.17         1,000,000         582.16 km 2D seismic data and 1 well drilled              Deepwater                            MN-DWHP-2018/1         2,491.31         2,750         76.80         1,158,000         744.72 km 2D, 680.25 sq km 3D seismic data and   11 wells drilled              Source: DGH,   India         Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  Â Â Â Â Â Â Â Â Â Â Â Â© 2019 IHS Markit      Â                                      Â   For more details on bidding terms and conditions for OALP-III, please refer to main OALP-III bidding article in GEPS.Â    https://pgeps.ihsenergy.com/GEPS/Display/c08aaae4-1e04-4685-9bd7-5fc853b25dcd
On 10 February 2019, at the India Petrotech event 2019, Indian Government, launched the third round of Open Acreage Licensing Programme (OALP-III). Of the offered 23 blocks, two blocks (one onshore block and one deepwater block) are located in the Mahanadi Basin.    At the event, the Directorate General of Hydrocarbons (DGH) issued the Notice Inviting Offers (NIO) and Model Revenue Sharing Contract (MRSC) for OALP-III, offering a total of 23 blocks, including 14 onshore, three shallow water, one deepwater and five coalbed methane (CBM) blocks, covering a combined area of around 31,700 sq km. Bidders were invited to submit their bids via the e-bidding portal from 11 February 2019, until the bid closing deadline on 10 April 2019. It is understood that of the 23 blocks offered, five CBM blocks have been carved out by the Directorate General of Hydrocarbons (DGH). The Mahanadi Basin covers an onshore area of around 15,500 sq km, shallow water offshore area of around 14,211 sq km and deepwater offshore area of around 69,789 sq km.