Atanu happy with DSF response

Vol 20, PW 6 (01 Dec 16) News in Brief

DGH chief Atanu Chakraborty believes the Discovered Small Fields bidding round which closed on November 21 has been a resounding success even if some are asking whether the DGH will sign PSCs in December this year as directed.

"Participation in this bid round was beyond our expectations," Chakraborty tells this report. "Bids were received for all the contract areas with oil discoveries.

It's a huge success. As for gas discoveries, bids have been received for 60% of the fields offered." Another source at the DGH refuses to disclose when its 'Bid Evaluation Committee' will submit its recommendations to the oil ministry.

When asked if the PSCs will be signed in December as announced by oil minister Dharmendra Pradhan he replied: "If Pradhan has made this statement, then we'll have to do it." The DGH has received 134 e-bids from 42 companies. Despite Chakraborty's bravado however, 12 of the 46 contract areas received no bids and only five foreign companies participated.

Of the 46 areas, 26 are onshore while 18 are in shallow water and two are in deep water.

LNG Summit