PSU Connect | ONGC signs 6 Contracts for Discovered Small Fields in Offshore during DSF-III

Sep 10,2022

Oil and Natural Gas Corporation (ONGC) has signed 6 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 2 CBM blocks awarded to ONGC, the total investment commitment is to the tune of USD 5.94 million.

In the 6 DSF-III blocks awarded to ONGC (2 under JV with IOC) an investment of USD 1894.5 million is planned towards development in the blocks.

The contracts were exchanged in the presence of Hon’ble Minister of Petroleum & Natural Gas Shri Hardeep Singh Puri, by ONGC CMD Rajesh Kumar Srivastava on 9 September 2022 in New Delhi. ONGC Director (Offshore) Pankaj Kumar was also present.

The DSF-III bid round 2021 was launched by Government of India on 10 June 2021. A total of 75 fields (Nomination & PSC Regime) under the Discovered Small Field Policy were clubbed in 32 Contract Areas (11 Onland and 21 Offshore) for offer under DSF-III. ONGC participated in the bidding and subsequently won 6 contract areas. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation Limited (IOCL).

The CBM special bid round 2021 was launched by Government on 22 September 2021 and concluded on 31 May 2022 with a total of 15 blocks under offer. ONGC participated in the bidding of 2 blocks and won 2 blocks one each in Jharkhand and Madhya Pradesh.