OIL & GAS

Licensing rounds: No takers for hydrocarbon exploration permit

No company has expressed interest for a hydrocarbon exploration permit in the latest licensing rounds in the country.

The sixth and seventh licensing rounds, which ran between December and July, attracted no explorer as the pandemic clouded prospects for the oil sector, restricted mobility, and kept oil company executives busy with their operational challenges.

“The pandemic didn’t permit much focus on acquiring new acreages. Once this settles down, we would again look at it,” said an executive at a state-run oil company.

Source
ET News
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