Contract for 31 oil fields awarded in Tamil Nadu

The bidding was open to all including oil companies

GN Bureau | February 28, 2017


#PSU   #ONGC   #PSU   #Oil Fields  

The Cabinet Committee on Economic Affairs (CCEA) has approved the award of 31 contract areas as part of the Discovered Small Field (DSF) Bid Round 2016. These fields were offered under new policy for small fields known as Discovered Small Field (DSF) policy, 2015, which offers improved fiscal terms with the aim to enhance oil and gas production and reducing import dependency of the country.

These fields were offered through an open and transparent international competitive bidding process. The bidding was open to all, including oil companies (i.e. ONGC & OIL) and other central and state PSUs, said a PIB release.

Currently, there are 03 operational Exploration Blocks (Approximately 1,461 sqkms) under Production Sharing Contract System in Tamil Nadu where hydrocarbon exploration is going on. Under nomination regime, 31 mining leases (approximately 3,500 sq km) have been granted in the state from where 600 tonnes of oil and 30 lakh cubic meter of natural gas are produced per day.

Till date, more than 700 wells have been drilled for extraction of oil and gas in the Tamil Nadu. These active operations are not hampering agriculture in nearby areas and do not pose any known environmental impact or health hazards on living beings of the operational area.

The two contract areas, Karaikal (10.4 sq km) located in Puducherry and Neduvasal (10.0 sq km) located in Tamil Nadu awarded under DSF bidding round have an in-place volume of 4,30,000 metric tonne of oil and oil equivalent gas.

Extraction of oil and gas from sub-surface is a well-established practice and the exploration and production industry uses state-of-the-art technology for the operations and takes maximum care for environmental effects. The operators also get Environment Impact Assessment done before carrying out any drilling activities and other activities.
 

Comments

 

Other News

Who is Eknath Shinde, the auto driver who became CM?

Hailing from Satara district of Maharashtra, Eknath Sambhaji Shinde had to leave his education midway to financially support his family. He worked as an auto rickshaw driver, a lorry driver and also said to have worked in a brewery before he came in contact with Anand Dighe, Shiv Sena’s Thane unit pr

Metro 3 car shed to stay at Aarey, say new CM Shinde

Former Maharashtra chief minister Davendra Fadnavis stunned all at a press conference Thursday and named Eknath Shinde, the rebel MLA from Shiv Sena, as the next chief minister. Though Fadnavis said he would stay out of the government, a few hours later the BJP leadership announced he would be the deputy c

Uddhav Thackeray resigns as chief minister of Maharashtra

Minutes after the Supreme Court ordered a floor test on Wednesday night, Uddhav Thackeray in a televised address resigned as the chief minister of Maharashtra and also as a member of legislative council (MLC). He later drove down to Raj Bhavan and tendered his resignation to the governor Bhagat Singh Koshi

Gig workforce expected to expand to 2.35 crore by 2029-30

The gig economy has arrived in India, as the Covid-19 pandemic has propelled a flexibility of employment. As many as 77 lakh workers were engaged in the gig economy, constituting 2.6% of the non-agricultural workforce or 1.5% of the total workforce in India. The gig workforce is expected to expand to 2.35

How Antyodaya Saral is simplifying everyday life in Haryana

From obtaining an electricity connection to a driver`s licence, ration card, or old-age allowance, delivery of government schemes and services is an aspect of governance that impacts citizens at various points throughout their lives. The Haryana state government provides over 600 such schemes and services.

A blueprint of India’s economic future: From a former RBI governor

From Dependence to Self-Reliance: Mapping India’s Rise as a Global Superpower By Bimal Jalan Rupa Publications, 184 pages, Rs 695 Bimal Jalan, a former governor of the Reserve Bank of India (RBI), has been one of our finest commentators on econom

Visionary Talk: Sanjay Pandey, Mumbai Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter