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In the largest ever effort to attract
investments in oil and natural gas
exploration, the Government is
offering 55 oil exploration blocks and
10 coal bed methane blocks for
bidding. There are 24 are deep sea, 6
shallow offshore, and 25 on land blocks
covering 355,000 sq kilometers. The
terms for this round have been changed
to reduce speculative bidding and will
include more Government profit
participation, technical competence,
and financial capacity of the bidder.
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