DSF Round-II: ONGC wins Five Contract Areas

Dated : 11 March 2019 11:15:00 AM

Discovered Small Fields (DSF) Bid Round-II culminated on 7 March 2019 when the contracts of the blocks were signed between Government of India and the respective winners in New Delhi. ONGC, the largest E&P company of the country won five out of 23 contract areas, while remaining 18 areas were won by thirteen companies and their consortia.

Dharmendra Pradhan, Hon’ble Minister for Petroleum & Natural Gas and Skill Development & Entrepreneurship addressing the Contract Signing function

The contract signing function was presided by Shri Dharmendra Pradhan, Hon’ble Minister for Petroleum & Natural Gas and Skill Development and Entrepreneurship. On this momentous occasion, Dr. M M Kutty, Secretary, P&NG, Dr. V P Joy, DG, DGH, Shri Rajiv Bansal, AS&FA, P& NG , Shri Sandeep Poundrik, JS ( Refinery), P &NG, Shri Sashi Shanker, CMD ONGC and other senior officers from the Ministry and Awardee companies were also present.

Hon’ble Minister emphasized upon the importance of expeditious exploitation of the fields awarded under DSF-II bidding round. He reiterated that in view of the growing energy demand of the country and rising energy import bill on the other hand, it is imperative to increase indigenous hydrocarbon production and exploitation of these prospective DSF areas would play an important role in that direction. Hon’ble Minister also rightly highlighted about the relentless efforts of the government in bringing out various new policies and initiatives to accelerate E & P activities in the country  and at the same time, making the contract processes transparent, business-friendly and efficient. He emphasized on the need for speedy approval process through single widow clearance.  He heartily congratulated the winners of various DSF areas.

Government received a very good response in the DSF Round-II. Total 59 discovered oil & gas fields covering an area of 3,042 Sq Km and having a prospective resource base of 190 MTOE (Million tonne of oil and oil equivalent gas) were offered through 25 contract areas. Total 145 e-bids were received from as many as 40 companies- participating singly as well as through consortium

A K Dwivedi, Director (Exploration) and Shri T K Banerjee, ED- Asset Manager, B&S and N&H Asset receiving the contract copy from Hon’ble Minister for Offshore Contract Areas while CMD Shri Sashi Shanker and Dir (Onshore) applaud

After detailed process of evaluation, finally on 1st March, 2019, the Empowered Committee of Secretaries (ECS) and Group of Ministers approved awarding 23 contract areas (14 on-land and 9 offshore) to highest ranked bidders which included total 14 companies (stand-alone or through consortium). The awarded 23 contract areas are spread over 3,000 Sq. Km. The enthusiasm is understood by the fact that out of 14 winning companies, eight are new entrants.

S K Moitra, Director (Osnohore) receiving the contract copy from Hon’ble Minister for On-land Contract Area

ONGC has won five Areas all with 100% Participating Interest (PI); one Onshore (RJ/ONDSF/Chinnewala/2018) and four offshore areas (MB/OSDSF/CA/2018, MB/OSDSF/NMT/2018, MB/OSDSF/SB15/2018, MB/OSDSF/D33/2018). While Director (Onshore) Shri SK Moitra signed the Revenue Sharing Contract (RSC) for the lone onland Area, Shri T K Banerjee, ED- Asset Manager, B&S Asset and N&H Asset signed  the contracts pertaining to four Offshore Areas. The four contract areas in offshore comprise of 14 marginal fields in Western Offshore.

After the award of these Contract Areas, ONGC will undertake E & P activities as per the Committed Work Program in respective RSCs. The nearby existing facilities of ONGC will be used for processing/evacuation of oil and gas to be produced from these fields.