The Indian government has announced a special bidding round for two discovered oil and gas fields in the Mumbai offshore region and a coal bed methane field in West Bengal.
According to The Economic Times, the Directorate General of Hydrocarbons announced that the notice requesting offers will be released on May 28 2024, and that bids will close on July 15.
Details such as reserves are anticipated to be included in the notice inviting offer.
“With the objective to augment domestic production of Petroleum and Natural Gas, the Ministry of Petroleum and Natural Gas, Government of India announces the Special DSF Bid Round offering two Discovered Small Field located in Mumbai Offshore (MB/OSDSF/C37/2024 and MB/OSDSF/B15/2024) and one Discovered Coal Bed Methane field located in West Bengal (SR-ONCBM (Raniganj)-2024) through International Competitive Bidding,” the notice read.
Launched in 2016, the Discovered Small Fields (DSF) initiative has seen three bidding rounds to date.
The first round awarded 46 contract areas, which included 67 discovered fields with a resource potential of 45 million tonnes (mt) of oil and oil equivalent gas (boe).
In August 2018, the second round offered 25 contract areas, comprising 59 fields with a resource potential of 190mt.
The third round in June 2021 featured 32 contract areas with 75 fields, holding a resource potential of 232mt boe.
Earlier in 2024, India signed contracts for ten oil and gas exploration blocks under the Open Acreage Licensing Policy bid round.
Oil and Natural Gas Corporation secured the majority, winning seven out of ten blocks.
The round concluded in July 2023 and included a consortium of Reliance Industries and BP, Oil India, and Sun Petrochemicals, each securing one block.
