Government extends deadline for bid submission in eighth round of oilfield auctions to July 5.

The government has extended the deadline for bid submission in the eighth round of oilfield auctions to July 5, according to a notification by the Directorate General of Hydrocarbons (DGH). This is yet another extension for the auction, which was launched on July 7 last year.

The government also extended the deadline for the special coal bed methane (CBM) bid round to June 30. The CBM round was launched on October 10.

The government has also approved several modifications to the bid documents of the eighth bidding round. The new rules permit companies to carve out larger blocks, modify bid evaluation criteria and incentivise early monetisation of discoveries.

ET