Govt to bid 60 small fields having 194.65 MMT oil and oil equivalent gas

It is estimated that the government will generate 88,000 jobs as direct, indirect and induced employment

GN Bureau | February 8, 2018


#PSU   #ONGC   #OIL  

The cabinet has approved the plan to conduct round two of Discovered Small Field (DSF) auction of 60 discovered small fields/un-monetised discoveries.

Out of these, 22 fields/discoveries belong to ONGC, five belong to Oil India Limited (OIL) and 12 are relinquished fields/discoveries from the new exploration and licensing policy (NELP) blocks.

Besides, 21 fields are remaining from DSF Bid round one which were put on offer but could not be awarded due to insufficient response from the investor.

The discoveries are estimated to have 194.65 million metric ton (MMT) oil and oil equivalent gas in place and they will be developed and monetised faster to augment production of oil and gas, leading to enhance energy security of the country.

It is estimated that investments into these fields will lead to generation of over 88,000 jobs as direct, indirect and induced employment.

This policy has also been extended for future round of bidding. Empowered Committee of Secretaries (ECS) will finalise and approve Model Revenue Sharing Contract, notice inviting offer (NIO) and other documents for DSF bid round two.
 

Comments

 

Other News

The Cost of Obesity

The latest episode of Checks and Balances focuses on the ticking time bomb of obesity in India, and Geetanjali Minhas of Governance Now spoke with a panel of experts. You can watch the episode here: https://youtu.be/mH

US-Iran deal: Path to peace or prelude to deeper regional quagmire?

In the midst of deep mistrust, the US and Iran are reported to have reached a framework deal for ending the West Asian conflict. But whether it will result in any meaningful breakthrough or pave the way for any lasting peace in the region, is in the realm of speculation.   During

Lived life, philosophy, spirituality and other enigmas

The Ashes Are Warm: Memories of a Lifetime Spent with UG Krishnamurti By Mahesh Bhatt and Sunita Pant Bansal Rupa Publications, 384 pages, Rs 495  

In Varanasi, fringe expansion vs. core heritage

For centuries, the urban framework of Varanasi was defined not just by its relationship with the sacred Ganga but by its multifaceted network of urban commons. Historic kunds, seasonal talabs (ponds), and open maidans served as the city’s basic ecological infrastructure. Th

What ails India`s skill development ecosystem

India’s skill development programmes were designed with a goal to make the young population ready with market-required skills and competencies, and to provide them with better employment opportunities. Yet the outcomes have fallen short of that goal: though over 1.6 crore individuals were trained acr

Cabinet passes resolution applauding PM on term record

The Union Cabinet on Wednesday passed a resolution marking June 10, 2026, as a historic milestone in the journey of Indian democracy applauding Narendra Modi for becoming the longest-serving elected PM of the country. By establishing a record of 4,399 days of continuous service as an elected PM, he has s





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter