The Centre has signed contracts with winners of blocks awarded under the Discovered Small Fields (DSF) Bid Round-II. Oil and Natural Gas Corporation (ONGC) has bagged five blocks, while Oil India Limited (OIL) has cornered two blocks in this round.
The second round of bidding for discovered small and marginal fields (DSF) in the petroleum sector is set to take place in October.
Petroleum Minister said Government now working on DSF Bid Round Two, Performance Enhancement Contracts (PEC), incentivizing EOR; Will be rolling out HELP through OAL mechanism shortly
The Government of India, today, signed the contracts of the fields awarded under the Discovered Small Field (DSF) Bid Round 2016 with the awardees at New Delhi.
ONGC has no further role with the proposed hydrocarbon extraction project at Neduvasal and its surrounding villages in Pudukkottai district, said top officials from ONGC based in Karaikal
The government will launch the second round of small oilfield auction in 2017-18, and introduce a policy to incentivise production from ageing fields in a bid to raise oil and gas output declining for the past few years, the oil minister has said.
Dharmendra Pradhan leads Roadshows to Singapore and London to meet global investors community for 67 discovered oil and gas fields
Pradhan's presence at the road shows indicates the seriousness of the NDA government to interact at the highest level with investors community for its Discovered Small oil and gas Fields. Both London and Singapore are the key financial centres for global oil and gas community, to publicize and attract investments.
In a bid to showcase 67 of India’s discovered oil and gas fields before the global investors community at Singapore and London, Union Minister of State (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan will be part of the roadshows to be held in these two countries from 9-14 September, 2016. Under this bid round, 67 Discovered Small Fields (DSF) are being offered for international bidding. These fields are spread over 9 sedimentary basins and will be offered in 46 contract areas. These fields are projected to yield 625 million barrels of oil and oil equivalent gas and spread over 1,500 sq kms in onland, shallow water and deep water