Oilfield auction deadline deferred for second time: DGH

Oilfield auction deadline deferred for second time: DGH

The government has deferred for the second time the deadline for submission of bids in the auction of 25 oil and gas fields that hold resources worth an estimated Rs 1 lakh crore, upstream regulator DGH said.

The second round of Discovered Small Fields (DSF) auction opened in August, and December 18 was the original deadline for submission of bids. This was deferred by a month to January 18 and now, it has again been deferred without intimating a new deadline.

“The last date of bid submission for Discovered Small Field Round-II is extended. The revised date will be intimated later,” the Directorate General of Hydrocarbons (DGH) said on its website.

In 2016, the government brought in a new DSF policy wherein ‘idle’ small discovered fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) Read More

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