ONGC inks 6 contracts for DSF in offshore during DSF-III

12 Sep 2022 Evaluate

Oil and Natural Gas Corporation (ONGC) has signed 6 contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation (IOCL).

The company has also signed 2 contracts for Fields under Special CBM Bid round-2021 blocks in Jharkhand and Madhya Pradesh. In the Special CBM bid round-2021 under OALP, as per provisions of the RSC, a total estimated expenditure commitment is indicated by the Contractor to the Government of India. For the 2 CBM blocks awarded to ONGC, the total investment commitment is to the tune of $5.94 million.

In the 6 DSF-III blocks awarded to ONGC (2 under JV with IOC) an investment of $1894.5 million is planned towards development in the blocks.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

ONGC Share Price

140.70 -0.15 (-0.11%)
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