India Lets New Contracts Related to Small Discovered Fields, CBM
The awards are part of the third and fifth bidding rounds launched last year.
The Indian government has signed contracts for 31 discovered small fields under the third round of bidding, and for four coalbed methane (CBM) blocks under the fifth round of bidding with 14 domestic companies. These blocks have been awarded.
Among these blocks, the Oil and Natural Gas Corporation (ONGC) has signed six contracts for discovered small fields, with three each for fields in the Arabian Sea and Bay of Bengal. These include four contract areas as sole bidder and two contract areas in partnership with Indian Oil Corporation Ltd.
The ONGC has also signed two contracts for CBM fields situated in Jharkhand and Madhya Pradesh. Cairn Oil & Gas has signed pacts for eight fields.
The third round for discovered small fields was launched by the government in June 2021 where 75 fields were offered under 31 contract areas. The CBM bidding round was launched in September 2021, which concluded at the end of May 2022 with 15 blocks under offer.