By: ICN Bureau
Last updated : September 12, 2022 8:32 am
These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL)
Oil and Natural Gas Corporation (ONGC) has signed six contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL).
The Energy Maharatna also signed 2 contracts for Fields under Special CBM Bid Round-2021 blocks in Jharkhand and Madhya Pradesh.
In the Special CBM bid round-2021 under OALP, as per provisions of the RSC, a total estimated expenditure commitment is indicated by the contractor to the Government of India. For the two CBM blocks awarded to ONGC, the total investment commitment is to the tune of US $5.94 million.
In the 6 DSF-III blocks awarded to ONGC (2 under JV with IOC) an investment of US $1,894.5 million is planned towards development in the blocks.
The contracts were exchanged in the presence of Minister of Petroleum & Natural Gas Hardeep Singh Puri, by ONGC CMD Rajesh Kumar Srivastava in New Delhi.