The directorate General of Hydrocarbons (DGH) mentioned that bidding for 75 small and marginal oil and gasoline discoveries, largely ONGC owned, which are being provided within the DSF-III bid spherical will begin April 1 and shut on May 16.
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The third bidding spherical underneath the Discovered Small Fields coverage (DSF-III) was launched on June 10 final yr. The authentic deadline for submission of bids was August 31, 2021. However, it was postponed to October 29, 2021. The begin of bidding was once more postpone this yr to February 1 and shutting slated for March 15. As the bid deadline approached, it was once more postponed with none causes being given.
“Bid submission for DSF Bid Round-III will start on April 1, 2022, and end on May 16, 2022,” the DGH mentioned.
DSF-III gives 32 contract areas, comprising 75 fields/discoveries, with a mixed complete space of greater than 13,000 sq. kilometres, in 9 sedimentary basins.
The fields on provide embrace a couple of of the nomination fields of nationwide oil firm, ONGC, and a few of the relinquished/unmonetised discoveries.
According to the DGH, the 32 provided contract areas have a complete useful resource potential of round 230 million tonnes of oil equal (MMtoe)/1.7 billion barrels (oil and oil equal of gasoline (OEG)). The authorities launched DSF in October 2015 to monetise unmonetised discoveries of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL). Under the DSF coverage, two bid rounds in 2016 and 2018 have been performed whereby 54 contract areas with 101 fields have been provided. with PTI
