(T.E.T)
Bidding for 75 small and marginal oil and gas discoveries, mostly of ONGC, that are being offered in the DSF-III bid round, will begin on April 1 and close on May 16, according to the DGH. The third bidding round under the Discovered Small Fields policy (DSF-III) was launched on June 10, 2021. The original deadline for submission of bids was August 31, 2021. However, this was postponed to October 29, 2021. The start was again put off to February 1, 2022 and closing slated for March 15, 2022. As the bid deadline approached, it was again postponed without any reasons being given.
“Bid submission for DSF Bid Round-III will start on April 1, 2022, and end on May 16, 2022,” the Directorate General of Hydrocarbons (DGH) said. Oil production from the areas awarded in two rounds of DSF is envisaged to reach 1.3 million tonnes by 2024 and gas output to touch 2.9 billion cubic metres, it said. India, the world’s third-biggest crude importer and consumer, has been pursuing a policy to promote domestic oil and gas production through a host of investor-friendly policy initiatives aimed to cut its import dependence to meet energy demand. The nation meets 85 per cent of its domestic oil demand through imports.
