India okays 23 bids in small-field round

March 4, 2019
India’s government has approved the award of 23 contract areas to 14 companies in its second round of discovered small field bidding. The Directorate General of Hydrocarbons received 145 bids for 24 of 25 contract areas on offer from as many as 40 companies bidding alone or in groups. One area is under judicial review.

India’s government has approved the award of 23 contract areas to 14 companies in its second round of discovered small field bidding (OGJ Online, Aug. 8, 2018).

The Directorate General of Hydrocarbons received 145 bids for 24 of 25 contract areas on offer from as many as 40 companies bidding alone or in groups. One area is under judicial review.

Ten private companies will be offered revenue-sharing contracts to 15 areas. The private company awarded most contracts, with five, is Ganges Geo Resources Pvt. Ltd., Mumbai.

Among state-owned companies, Oil & Natural Gas Corp. was awarded five areas, and Oil India Ltd., was awarded two.

One award went to state-owned Indian Oil Corp. Ltd. bidding with private Hindustan Oil Exploration Ltd.

Of the areas awarded, 14 are onshore, and 9 are offshore.

Private Vedanta Ltd., which has been active in recent Indian bid rounds, was awarded two contract areas.