ONGC wins Five Contract Areas
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 the remaining 18 areas were won by thirteen companies and their consortia.
The contract signing function was presided by Dharmendra Pradhan, 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, Rajiv Bansal, AS&FA, P& NG , Sandeep Poundrik, JS ( Refinery),
P & NG, Sashi Shanker, CMD ONGC and other senior officers from the Ministry and Awardee companies were also present.
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. 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 window clearance. He heartily congratulated the winners of various DSF areas.