Monday, 27 March 2017

Government of India signs Contracts awarded under Discovered Small Field Bid Round 2016

Contracts signed for 31 Contract Ares under the DSF Bid Round 2016
Estimated total revenue would be approxRs. 46,400 Cr. ;Govt share expected at approx. Rs. 9,300 Cr
“DSF Bid Round 2016 exemplifies the Boldness that is now the face of Business in India”, says Shri Pradhan
Petroleum Minister said Government now working on DSF Bid Round Two; Will be rolling out HELP through OAL mechanism shortly
The Government of India, today, signed the contracts of the fields awarded under the Discovered Small Field (DSF) Bid Round 2016 with the awardees at New Delhi. The event was presided by Minister of State (I/C) for Petroleum and Natural Gas, Shri Dharmendra Pradhan. The delegation of Shri Pradhan included the Shri K D Tripathi, Secretary for Petroleum and Natural Gas and other senior officials of the Ministry.
The Minister also inaugurated a 2 way Interactive Portal for DSF in line with Ease of Doing Business (which is available at www.dghindia.gov.in/dsfportal) which has been developed by DGH to facilitate contract management and redressal of queries.
Addressing the gathering, the Minister said the DSF was introduced with an objective to take a strong step forward towards our Hon’ble Prime Minister, Shri Narendra Modi’s vision of reducing India’s energy imports, by 10% by 2022. He said that the DSF bid round, which completed in a short span of time, helped us pilot several new initiatives such as the implementation of e-bidding system, an interactive mobile app, setup of virtual data center, facility of dedicated facilitation cell, conducting bidder facilitation workshops etc.
The Minister said that the cumulative peak production from the awarded fields is expected to be around 15000 BOPD of oil and 2 MMSCMD of gas over the economic life. The estimated total revenue would be approximately Rs. 46,400 crores, of which royalty collection and Government’s revenue share is expected to be around Rs. 5,000 crores and Rs. 9,300 crores, respectively. It is also estimated that employment for ~37,500 persons would be generated through the awarded fields.
“In the face of a global oil glut, and oil prices at half their level three years ago, we took a bet with this bidding round for hydrocarbon assets, thereby exemplifying the boldness that is now the face of business in India. Not just that, the overall response that we received from the bid round, even from bidders who could not succeed, has been nothing short of outstanding”, the Minister added.
The Minister also mentioned that the Government is now working towards a second round of DSF Bidding, and shall also be rolling out the Hydrocarbons Exploration and Licensing Policy (HELP) through the Open Acreage Licensing (OAL) mechanism shortly, which shall provide good opportunity for more E&P investment.
Shri Pradhan congratulated the awardees and assured them of complete support and assistance from the Government. He also appreciated the efforts of the officials and partner organizations for the successful completion of the bid round.
Recently, the Petroleum Minister along with Minister of State (I/C) for Cpmmerce and Industry, Smt Nirmala Sitharaman and Minister of State for Road Transport and Highways, Shri Pon. Radhakrishnan met the delegation of representatives from Neduvasal Village of Tamil Nadu regarding their concerns on exploration in that area. The Ministers assured the delegation that the work on the field wills start when Government of Tamil Nadu addresses the local concerns in consultation with Central Government.
The Signing of Contract was attended by the successful awardees, E&P majors, Service Companies amongst others. 
The details of the contracts signed are placed at Annexure 1.
*****
RG

Annexure 1 - Details of the contracts signed under the Discovered Small Field Bid Round
S.No.
Company / Consortium
No. of Contract Areas
Contract Area Names
1
BPRL
5
RJ/ONDSF/BAKHRI TIBBA/2016
RJ/ONDSF/SADEWALA/2016
CY/ONDSF/KARAIKAL/2016
MB/OSDSF/B127E/2016
MB/OSDSF/B15/2016
2
PFH Oil and Gas
3
CB/ONDSF/ELAO/2016
KG/ONDSF/ACHANTA/2016 KG/ONDSF/BHIMANAPALLI/2016
3
IOCL
3
VN/ONDSSF/NOHTA/2016
AA/ONDSF/JERAIPATHAR/2016 GK/OSDSF/KD/2016
4
Ramayana+ Duggar+ BND Energy + Mahindra Infratech
2
AA/ONDSF/BARSILLA/2016 AA/ONDSF/DIPLING/2016
5
Oil Max Energy
2
AA/ONDSF/CHARAIDEO/2016 AA/ONDSF/DUARMARA/2016
6
Nippon Power
2
CB/ONDSF/KAMBOI/2016
CB/ONDSF/WEST BECHRAJI/2016
7
Megha Engineering
2
AA/ONDSF/LAXMIJAN/2016 CB/ONDSF/KAMBEL/2016
8
KEI-RSOS
2
KG/ONDSF/KORAVAKA/2016 KG/OSDSF/GSKV1/2016
9
Prize Petroleum
2
AA/ONDSF/HILARA/2016 KG/ONDSF/SANARUDRAVARAM/2016
10
HOEC+Adbhoot
1
MB/OSDSF/B80/2016
11
HOEC+OIL+PRIZE
1
AA/ONDSF/KHEREM/2016
12
Adani Welspun
1
MB/OSDSF/B9/2016
13
Sun Petrochemicals
1
MB/OSDSF/B-37/2016
14
GEM Laboratories
1
CY/ONDSF/NEDUVASAL/2016
15
South Asia Consultancy FZE
1
CB/ONDSF/SOUTH PATAN/2016
16
VijayasriBhaskar
1
AA/ONDSF/PATHARIA/2016
17
Enquest+ SKN Haryana*
1
MB/OSDSF/D18/2016
*Likely to sign
Total No. of Companies
PSUs
Indian Private Companies
Foreign Private Companies
22
4
17
1

Total No. of Contract Areas
Onland
Offshore
31
23
8



Courtesy: pib.nic.in

No comments:

7.4% growth in Foreign Tourist arrivals in July, 2017 over July, 2016

73.3% growth in Foreign Tourist arrivals on e-Tourist Visa in July, 2017 over July, 2016 Ministry of Tourism compiles monthly estimate...