Cabinet approves DSF Policy Bid Round-11 for 60 un-monetised discoveries of ONGC and OIL under Nomination and Relinquished Discoveries under PSC Regime
New Delhi, Feb 7 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for extending the Discovered Small Field Policy notified on 14.10.2015 to identified 60 discovered small fields / un-monetized discoveries for offer under the Discovered Small Field Policy Bid Round-ll.
"Out of these, 22 fields/ discoveries belong to of Oil and Natural Gas Corporation (ONGC) Limited, 5 belong to Oil India Limited (OIL) and 12 are relinquished fields / discoveries from the New Exploration and Licensing Policy (NELP) Blocks. In addition, 21 fields / discoveries are remaining from DSF Bid Round-l which were put on offer but could not be awarded due to insufficient response from the investor," read a government statement.
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