IOC, HPCL, BPCL Bag a Third of 34 Discovered Small Fields on Auction

摘要

Downstream PSU's IOC, BPCL and HPCL have cornered a third of the 31 discovered small oil and gas fields awarded in the first auction in more than six years. The Cabinet Committee on Economic Affairs recently approved award of 31 fields out of 34 that received bids in the auction that closed on November 21. These fields, which hold in place reserves of 62 million tonnes of oil and oil equivalent gas, can cumulatively produce a peak of around 15,000 barrels of oil per day and 2 million standard cubic meters per day of gas, said the DGH in a statement. The peak oil and gas output envisaged is about two per cent of India's current oil and gas production.