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

Ganga heavily polluted with microplastics, finds study

A new study titled, ‘Quantitative analysis of Microplastics along River Ganga’ by Toxics Link has found heavy concentration of microplastics in the Ganga. All samples collected for study from the river at Haridwar, Kanpur and Varanasi were found to be polluted with microplastics.

Maharashtra flood situation grim, rescue works on

At least 79 people were killed and 56 were missing as the flood situation in Maharashtra remained grim on Saturday. Torrential rainfall in various parts of the state, coinciding with high tides and also discharge from dams, led to inundation of many regions and floods caused landslides in some places too.

Maharashtra partners with Climate Group to promote electric vehicles

Within days of announcing its new Electric Vehicle Policy 2021, Maharashtra Friday announced its partnership with Climate Group’s EV100 network to push and promote electric vehicles and reduce CO2 emissions. The policy, meanwhile, was also notified on Friday. Climate Gro

As rains batter Maharashtra, state on red and orange alert

Severe rains battered Raigad, Thane, Ratnagiri, Kolhapur and Satara regions of Maharashtra with rains in Ratnagiri district breaking the 40-year record. As rivers in these districts crossed warning levels, the National Disaster Response Force (NDRF), the State Disaster Response Force (SDRF), Coast Guard, N

Will next wave affect children? That`s mere speculation, says expert

Dr. Praveen Kumar, director, department of pediatrics, Lady Hardinge Medical College, New Delhi, talks about various issues including impact of Covid-19 on children, the need to protect them, and vaccinating pregnant women and lactating mothers. How has the pandemic affected

A public policy bridge across the digital divide

There has been an active debate globally and in India about the digital divide. This debate has gained additional weight during the Covid-19 pandemic because the acceleration of the need for digital access to health and other social services has thrown this issue into sharper relief. A critical public poli

Visionary Talk with Sanjay Jha, Political Analyst On The Current Political Scenario



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter