Second round of DSF bidding may attract about $1.2 bn investments: DGH


Second round of DSF bidding may attract about $1.2 bn investments: DGH

The Director General of Hydrocarbons on Wednesday said the ongoing Discovered Small Filed (DSF) second round bidding, once completed, will entice about $1.2 billion worth of investments by the successful bidders.

“The total investment committed in the DSF-I was $600 million. We expect it to double this time at least double to $1200 million (USD 1.2 billion).

Here the area is also doubled and reserves are also doubled 9 when compared to the round one). The area is 3000 Sq Km and reserves are 190 mmtoe ( million metric tonnes of oil equivalent),” VP Joy, Director General of Directorate of Hydrocarbons told reporters.

He was in the city to participate in the investor meet organised by the DGH for the DSF Bid Round-II.

He said under the current round 25 contract areas covering 59 discovered oil and gas fields spread over 3000 Sq Km with prospective resource base of over 190 mmtoe was announced. Read More

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