Oil India sees partnership with global players not only for transfer of advanced technology but also a way to hedge risks faced in exploration of difficult areas. Oilfields (Regulation and Development) Amendment Bill, 2024 would be an enabler for IOCs to look at India as an exploration destination. Oil India is exploring the possibility of joint bidding with the Brazilian state-run oil and gas major Petrobras in the latest OALP round, said Rath. The Indian government on February 11 launched the largest OALp round with 25 blocks on offer. Of the total 25 blocks, six each are on land and in Shallow Water, one in Deep Water, and 12 blocks are in Ultra Deep-Water areas. The results of the bidding round are awaited for eight sedimentary blocks located throughout the Indian government’s OAL P-IX round, which launched in January 2024, totalling around 136 lakh square kilometres. The bidding round is primarily an offshore bid round with 19 such blocks on Offer.