The bidding was open to all including oil companies
GN Bureau | February 28, 2017
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.
After the liberalisation of the insurance industry in 2000, private firms (mostly in partnerships with foreign firms) have readily taken to the sector. Till FY18 there were 23 private firms in the life insurance sector and 21 in general insurance segment. However, it was only in 2016-17 that the first priv
[Kancha Ilaiah Shepherd, scholar and dalit activist, has penned his autobiography which is more than just the life-story of an individual but promises to become a document for a generation and a community. We reproduce below an excerpt, with the permission of the publishers, where he talks about his yo
Villages without power supply are easy to find though the government says there are none. The lines are laid, but many villagers are too poor to pay for electricity. BPL (below poverty line) families, entitled to free supply, are waived the installation charge. But they don’t have money to wire their
In a major embarrassment to the railways, the much touted Vande Bharat Express developed a technical snag at Chamraula, 15 kms from Tundla junction. Prime Minister Narendra Modi flagged off the train on Friday from New Delhi station. The train was
Indian Railways entered a new era as prime minister Narendra Modi on Friday flagged off the country’s first semi high-speed train, Vande Bharat Express, from the New Delhi railway station. The new train is also seen as a success story of the NDA government’s ‘Make in India’
Riho Kruuv, Ambassador of the Republic of Estonia talks to Vishwas Dass on key issues like the importance of e-Residency programme of the Government of Estonia and why Estonia is becoming a preferred investment destination for Indian startups and budding entrepreneurs. The Ambassador says Estonia offer