Ministry of Oil invites bids for third round of DSF-III
OIL & GAS

Ministry of Oil invites bids for third round of DSF-III

Minister of Oil Hardeep Singh Puri opened the bid phase of the third round of Discovered Small Fields (DSF-III) on July 30.

Puri invited foreign investors like ExxonMobil and BP to explore massive potentials proposed by Asia's third-largest economy's hydrocarbon sector.

In early July, Puri took charge of the oil ministry from the former minister Dharmendra Pradhan, who had been in the ministry duty for seven years.

India proposed thirty-two contract areas for seventy-five oil and gas fields in nine sedimentary basins, including over 13,000 sq km in the DSF-III round.

Directorate General of Hydrocarbons, the upstream regulator of India, opened data for fields on June 10 offered under the latest round for evaluation. The regulator fixed August 31 as the deadline for the bids. The oil ministry officials told the media that the fields would be awarded to the bidders who are successful by December.

The discovered fields that are proposed cover 2 in deepwater, 19 on-land fields and 54 in shallow water. These fields together are expected to hold oil and gas reserves of around 230 million mt of oil equivalent, or 1.7 billion boe.

The gas output in India is predicted to be 2.91 billion cu m, while the oil production in India is set to be 1.32 million mt by 2024-25 from the contracts allocated in the previous two DSF rounds.

To meet its domestic oil demand, India depends 85% on imports.

The world's third-biggest crude importer and consumer, India, was pursuing a policy to promote domestic oil and gas production for the past seven years through a host of investor-friendly policy initiatives whose objective is to cut its import dependence to meet energy demand.

Image Source


Also read: Govt aims speedy clearance of exploration activities

Minister of Oil Hardeep Singh Puri opened the bid phase of the third round of Discovered Small Fields (DSF-III) on July 30. Puri invited foreign investors like ExxonMobil and BP to explore massive potentials proposed by Asia's third-largest economy's hydrocarbon sector. In early July, Puri took charge of the oil ministry from the former minister Dharmendra Pradhan, who had been in the ministry duty for seven years. India proposed thirty-two contract areas for seventy-five oil and gas fields in nine sedimentary basins, including over 13,000 sq km in the DSF-III round. Directorate General of Hydrocarbons, the upstream regulator of India, opened data for fields on June 10 offered under the latest round for evaluation. The regulator fixed August 31 as the deadline for the bids. The oil ministry officials told the media that the fields would be awarded to the bidders who are successful by December. The discovered fields that are proposed cover 2 in deepwater, 19 on-land fields and 54 in shallow water. These fields together are expected to hold oil and gas reserves of around 230 million mt of oil equivalent, or 1.7 billion boe. The gas output in India is predicted to be 2.91 billion cu m, while the oil production in India is set to be 1.32 million mt by 2024-25 from the contracts allocated in the previous two DSF rounds. To meet its domestic oil demand, India depends 85% on imports. The world's third-biggest crude importer and consumer, India, was pursuing a policy to promote domestic oil and gas production for the past seven years through a host of investor-friendly policy initiatives whose objective is to cut its import dependence to meet energy demand. Image Source Also read: Govt aims speedy clearance of exploration activities

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code