The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP). A total of 12 bids — seven bids by Oil and Natural Gas Corp (ONGC) and four by Oil India Ltd (OIL) — were received for the 11 blocks on offer at the close of bidding on June 30.
– Stocks-Markets-Economic Times
