Oil & Natural Gas Corpn wins 6 DSF-III blocks

12 Sep 2022 , 01:27 PM

Oil & Natural Gas Corpn 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 (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. Powered by Capital Market – Live News