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DSF round gets 134-eBids

oil-well — Pictures: DGH. Oil wells in Indian hydrocarbon basins.

Directorate General of Hydrocarbons (DGH) has received 134 e-Bids for the 34 contract areas under the Discovered Small Fields (DSF) Bid Round 2016 by deadline on 21st November 2016.

The DGH had offered 46 contract areas across 9 sedimentary basins for developing hydrocarbon resources.

The bid round took place in a challenging global market environment when the oil & gas prices have been volatile and the investment in the exploration & production sector has seen substantial decline, said the Ministry of Petroleum of Natural Gas (MoPNG).

Despite the above challenges, the response to DSF Bid round has been very favorable and exceeded expectations of all experts, it said.

The bids included oil & gas companies and first time investors in E&P sector. Forty-two companies, including 37 from private sector, participated in the bid round.

The ministry said 120 e-bids were received for all the 26 onland acreages/areas and 14 e-bids were for 8 of the 20 offshore areas. fii-news.com