Bids submitted by 30 Jan 2019
Petroleum & Natural Gas Ministry has received overwhelming response to Discovered Small Fields (DSF) Bid Round-II with 145 e-bids submitted by 39 companies for 24 contract areas on offer which includes 58 oil/gas discoveries.
The bid submission process was successfully completed on 30 January 2019, said the ministry in a release.
The bidding under DSF bid round-II started on 9 August 2018, and 25 contract areas were on offer covering 59 discovered oil and gas fields, spread over 3,000 sq km with prospective resource base of over 190 MMT of hydrocarbon.
Directorate General of Hydrocarbons (DGH) received 145 e-bids for 24 out of 25 contract areas under the DSF Bid Round-II.
Out of the total 145 e-bids received, 103 e-bids were received for onshore contract areas and 42 e-bids were received for offshore contract areas.
As many as 39 companies (Individually or as member of the bidding consortium) have participated in the bid round.
The response to the DSF Bid Round-II has been overwhelming as compared to the last round of DSF in 2016.
Out of 25 contract areas on offer, 15 are onshore and 10 are in shallow offshore areas. All the 15 onshore contract areas received e-bids while 9 out of 10 offshore contract areas have received e-bids.
Six foreign companies have also submitted the bids.
This bid round saw more than anticipated participation from new entrants from India and foreign countries like USA, UK, Australia, Singapore and UAE.
The bids (online first envelopes and hardcopies) were opened on 30 January 2019 at DGH’s Noida office in the presence of the bidders.
The evaluation of the bids would be undertaken in a time bound manner and decision on award would be subsequently taken, after the commercial bids (second envelopes) are opened.
The Government endeavors to award the contract areas by end of February 2019, so as to expedite the monetization of the hydrocarbon production from these fields.
The production from areas offered in DSF-I is likely to start as per contract timelines in 2019-20 and now DSF-II areas follow, as a continuum, to add up to the domestic production and increasing the numbers of oil & gas operators in the country. fiinews.com
