Petroleum Minister Dharmendra Pradhan will on Thursday open the second round of bidding for discovered oil and gas fields with 26 areas on offer, an official statement said. In the first round of bidding for Discovered Small Fields (DSF) last year, 134 bids were received for 34 blocks out of 46 on offer. A total of 30 contracts were awarded to 20 companies, of which 13 were new entrants in the exploration and production sector, the statement said adding oil/gas from these fields is expected in 2019-20.
“Encouraged with the success of Round-I and looking at the massive interest from industry especially from the private sector, the government is now rolling out DSF bid Round-II which is offering larger field areas in commercially producing basins,” it said. The 60 discoveries clubbed into 26 contract areas spread over 3,100 sq km and eight sedimentary basins will be put on offer. The fields are being offered in Rajasthan, Gujarat, Kutch & Cambay shallow waters, Mumbai offshore, Assam and Tripura, Mahanadi shallow water, Andhra Pradesh onland and KG offshore.