Award of 23 contract areas under DSF-II

Speed Post News Network

New Delhi : The Empowered Committee of Secretaries (ECS) and Group of Ministers has approved the award of 23 contract areas to Highest Ranked Bidders as part of the Discovered Small Field (DSF) Bid Round – II.

The bid submission process under DSF Bid Round – II was successfully completed on January 30, 2019. The bidding under DSF bid Round-II started on August 9, 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 (O+OEG).

Under DSF Bid Round-II, a total of 145 bids were received in 24 Contract Areas. As many as 40 companies (Individually or as member of the bidding consortium) have participated in the bid round. Six foreign companies also participated in the bidding round. 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 hard copies) were opened on January 30, 2019, at Directorate General of Hydrocarbons (DGH)’s Noida office in the presence of the bidders. The evaluation of the bids was undertaken in a time bound manner and the commercial bids (second envelopes) were opened on February14, 2019. Subsequently through detailed process of evaluation, 14 Companies (singly or in Consortium) have been shortlisted for award in 23 Contract Areas. Evaluation of the Contract Area CB/ONDSF/Sanganpur/2018 has been kept in abeyance as the matter is sub-judice, according to a PIB release.