Friday, June 24, 2022

11th CGD bidding round: PNGRB issues LoI to MEIL, Adani Total, IOC, 10 others

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  • The PNGRB declared winners for only 52 out of 61 GAs as a model code of conduct is in place poll-bound Uttar Pradesh (UP) and Uttarakhand
  • Out of the 52 GAs for which winners have been declared by the PNGRB, Adani Total has bagged the largest number of areas at 14, followed by MEIL at 12 

New Delhi: Making the list of successful bidders for the 11th CGD bidding round official on Friday, the Petroleum and Natural Gas Regulatory Board (PNGRB) awarded Letters of Intent (LoI) to 13 successful bidders, including Megha Engineering & Infrastructures Limited (MEIL), Adani Total, Indian Oil, among others, for 52 Geographical Areas. A total of 65 GAs were on offer under the 11th CGD bidding round and bids were received for 61 GAs. On Friday, the PNGRB declared winners for only 52 out of 61 GAs as a model code of conduct is in place poll-bound Uttar Pradesh (UP) and Uttarakhand, said sources.

11th CGD bidding round winners

Out of the 52 GAs for which winners have been declared by the PNGRB, Adani Total has bagged the largest number of areas at 14, followed by MEIL at 12 and Indian Oil at eight. Disinvestment-bound Bharat Petroleum Corporation Ltd (BPCL) has bagged four GAs, while GAIL (India) Ltd an Hindustan Petroleum Corporation Ltd (HPCL) bagged one area each. 

Adani Total has secured a total of three GAs in Assam and Chhattisgarh, four in Maharashtra, one each in Jharkhand and Odisha and two in Madhya Pradesh. MEIL secured four areas each in Madhya Pradesh and Tamil Nadu and one each in Karnataka, Maharashtra, Telangana and Odisha.

“438 bids out of 439 bids received were technically accepted and the financial bid of 438 bids was opened on 14.01.2022. Based upon the bids evaluations, PNGRB in its 108th Board meeting held on 27th January 2022 approved issuance of Letters of Intent (LoI) to the following 13 successful entities against 52 GAs,” said PNGRB in an official statement.

“As per provisions of the CGD Authorisation Regulations, authorisation shall be granted to the successful bidders after receipt of the requisite Performance Bank Guarantee from the concerned entities within specified period of 30 days,” it added.

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