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Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday launched the “Discovered Small Field” (DSF) Bid Round III. Under the bid round, 75 discoveries across 32 contract areas in 11 basin/locations will be offered. Estimated hydrocarbons in place of around 232 MMTOE are on offer.
“India has a huge appetite for energy and is expected to be the primary driver of global energy demand in the coming decades as incomes and per capita energy consumption rises,” Puri said while further adding that India is waiting to take off.
Also read: Centre offers 75 fields under third DSF round
Puri said India’s per capita consumption is poised to grow with the increase in economic activity and urbanisation. With this, the investors have a win-win situation as there is no doubt about the demand and the government is ready to partner with the investors and take remedial steps to overcome the hurdles, he said.
Minister’s assurance
The Minister assured full support to the investors and backing of the system. “The government has created an investor-friendly ecosystem, by continuously ushering policy reforms and projects that have the potential to transform the landscape of the sector. Some of these are the successful roll out of the HELP and OALP, opening up of the entire sedimentary basin area to investors, National Seismic Programme,” Puri said.
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