India, March 26 -- The Government of India issued the following news release:
The Central Government has launched the first tranche of auction of 13 offshore blocks on 28.11.2024 for grant of composite licence, i.e. exploration licence-cum-production lease, in accordance with the Offshore Areas Minerals (Development and Regulation) Act, 2002.
Before notifying the above blocks in offshore areas, the Central Government had consulted several key Ministries, including the Ministry of Environment, Forest and Climate Change (MoEFCC) and the Department of Fisheries under the Ministry of Fisheries, Animal Husbandry, and Dairying, among others, as mandated under Rule 5 of the Offshore Areas Operating Right Rules (OAORR), 2024.
Further, the prefer...