India today put up for bidding 25 discovered oil and gas fields, holding resources of an estimated Rs 1 lakh crore, as it looked to expedite production from areas lying idle for years.
Oil Minister Dharmendra Pradhan launching the second round of Discovered Small Fields (DSF) said the government is expecting as much as Rs 45,000 crore in royalty, taxes and profit petroleum over the life of the fields.
In DSF-II, 59 discoveries have been clubbed into 25 contract areas spread over 3,042 square kilometers and eight sedimentary basins. The last date of bidding is December 18 and contracts will be awarded within January 2019. Read More
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