India - Award of 23 Contract Areas Under DSF-II

Source Press Release
Company ONGCArch Softwares Private LimitedArsh Corporate Services Private LimitedBagadiya Brothers Private LimitedGanges Geo Resoureces Private LimitedGem Petro E&P Private LimitedHindustan Oil Exploration Company LtdIndian Oil Corporation LimitedInvenire Energy Private LimitedKeerthi Industries LimitedOil IndiaShanno Business India Private LimitedShanti G.D. Ispat and Power (P) Ltd Vedanta Limited 
Tags Licensing Rounds, Deals, Upstream Activities
Date March 01, 2019

The Empowered Committee of Secretaries (ECS) and Group of Ministers on March 1 2019 has approved the award of 23 contract areas to Highest Ranked Bidders as part of the Discovered Small Field (DSF) Bid Round – II.

The bid submission process under DSF Bid Round – II was successfully completed on January 30, 2019. The bidding under DSF bid round-II started on 9th August 2018, and 25 contract areas were on offer covering 59 discovered oil and gas fields, spread over 3,000 Sq. Kms with prospective resource base of over 190 MMT (O+OEG).

Under DSF Bid Round-II, a total of 145 bids were received in 24 Contract Areas. As many as 40 companies (Individually or as member of the bidding consortium) have participated in the bid round. 6 foreign companies also participated in the bidding round. This bid round saw more than anticipated participation from new entrants from India and foreign countries like USA, UK, Australia, Singapore and UAE.

The bids (online first envelopes and hardcopies) were opened on 30th January 2019 at DGH’s Noida office in the presence of the bidders. The evaluation of the bids was undertaken in a time bound manner and the commercial bids (second envelopes) were opened on 14th February 2019. Subsequently through detailed process of evaluation, 14 Companies (singly or in Consortium) have been shortlisted for award in 23 Contract Areas. Out of there 14 Companies, eight are new entrants in the E&P Sector. Evaluation of the Contract Area CB/ONDSF/Sanganpur/2018 has been kept in abeyance as the matter is sub-judice.

Click here to view the details of contract areas awarded.

Click here to view the tender released in August 2018 and  here to view further technical information on the blocks.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd