Ashurst is advising longstanding client Vedanta Resources plc on the successful bid by its subsidiary, Vedanta Limited, for 41 exploration blocks in sedimentary basins throughout India to pursuant to the Government of India's Open Acreage Licensing Policy (OALP).

The 41 blocks awarded to Vedanta Limited comprise 33 onshore blocks and eight offshore blocks with an aggregate bid cost of US$551 million, representing Vedanta's total committed capital expenditure on the blocks during a planned exploration phase of three to four years. The development and production period for each block will be a maximum of 20 years from the date of grant of the petroleum mining lease following discovery of previously unknown deposits of hydrocarbons and approval of the relevant field development plan, subject to any extension granted.

The Ashurst team is being led by corporate partner Tom Mercer, assisted by associates Amber Walker and Louise Johnson