CCEA okays award of contracts under Discovered Small Field Policy bid round - 2016
New Delhi, February 15, 2017
The Cabinet Committee on Economic Affairs (CCEA) today gave its approval to the award of contracts in 31 contract areas - 23 onshore and eight offshore -- of discovered small fields of public sector Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL).
The award of contracts is expected to provide faster development of fields and facilitate production of oil and gas, thereby increasing energy security of the country, an official press release said.
These areas were discovered long back but these discoveries could not be monetized due to various reasons such as isolated locations, small size of reserves, high development costs, technological constraints, fiscal regime, and so on, it said.
"It is expected that in-place locked hydrocarbons volume of 40 million metric tonnes (MMT) oil and 22 billion cubic meters (BCM) of gas will be monetised over a period of 15 years. The production from these contract areas will supplement the domestic production," the release said.
For early monetization of these fields, in September, 2015, the Cabinet approved 69 marginal fields for offer under Discovered Small Fields Policy. Out of these, 67 Discovered Small Fields were clubbed into 46 contract areas and put on offer through online international competitive bidding. A total of 134 e-bids were received for 34 contract areas. A total of 47 companies submitted their bid, out of which 43 are Indian companies and four are foreign companies.
These contract areas have been awarded under the new regime of Revenue sharing Model, the release said.
The production from these contract areas will supplement the domestic production, it added.
The following is the list of successful bidders:
1. HILARA DSF 2016 - Prize Petroleum Company Limited
2. KARAIKAL-DSF-2016 - Bharat PetroResources Limited
3. ACHANTA -DSF-2016 - PFH Oil and Gas Pvt Ltd
4. SANARUDRAVARAM-DSF-2016 - Prize Petroleum Company Limited
5. BAKHRI TIBBA-DSF-2016 - Bharat PetroResources Limited
6. SADEWALA-DSF-2016 - Bharat PetroResources Limited
7. NOHTA-DSF-2016 - Indian Oil Corporation Ltd
8. JERAIPATHAR-DSF-2016 - Indian Oil Corporation Ltd
9. B-37 CLUSTER-DSF-2016 - Sun Petrochemicals Pvt. Ltd.
10. B-9 CLUSTER-DSF-2016 - Adani Welspun Exploration Ltd.
11. B-15 CLUSTER-DSF-2016 - Bharat PetroResources Limited
12. B-127E CLUSTER-DSF-2016 - Bharat PetroResources Limited
13. KD-DSF-2016 - Indian Oil Corporation Ltd
14. GS-KV1 CLUSTER-DSF-2016 - KEI-RSOS Petroleum & Energy Pvt Ltd
15. LAXMIJAN-CLUSTER-DSF-2016 - Megha Engineering And Infrastructures Limited
16. PATHARIA CLUSTER-DSF-2016 - Vijayasri Bhaskar Industries Private Limited
17. BARSILLA-DSF-2016 - Ramayna Ispat Private Limited, BDN Enterprises Pvt Ltd, Duggar Fiber Pvt Ltd, Mahendra Infratech Pvt Ltd
18. CHARAIDEO-DSF-2016 - Oilmax Energy Private Limited
19. ELAO-DSF-2016 - PFH Oil And Gas Private Limited
20. SOUTH PATAN-DSF-2016 - South Asia Consultancy Fze
21. KHAMBEL-DSF-2016 - Megha Engineering And Infrastructures Limited
22. KAMBOI-DSF-2016 - Nippon Power Ltd
23. WEST BECHRAJI-DSF-2016 - Nippon Power Ltd
24. NEDUVASAL-DSF-2016 - Gem Laboratories Private Limited
25. BHIMANAPALLI CLUSTER-DSF-2016 - PFH Oil And Gas Private Limited
26. KORAVAKA-DSF-2016 - KEI-RSOS Petroleum & Energy Pvt Ltd
27. KHEREM-DSF-2016 - Hindustan Oil Exploration Company Limited,
Oil India Limited, Prize Petroleum Company Limited
28. DIPLING CLUSTER-DSF-2016 - Ramayna Ispat Private Limited, Bdn Enterprises Pvt Ltd, Duggar Fiber Pvt Ltd, Mahendra Infratech Pvt Ltd
29. DUARMARA-DSF-2016 - Oilmax Energy Private Limited
30. B-80-DSF-2016 - Hindustan Oil Exploration Company Limited, Adbhoot Estates Private Limited
31. D-18-DSF-2016 - Enquest Drilling Private Limited, SKN Haryana City Gas Distribution Pvt Ltd