Economy

Third round of DSF auction in 2-3 months

Our Bureau New Delhi | Updated on March 02, 2021

“Two-three months is what we are aiming for,” said Amar Nath, Joint Secretary (Exploration), at virtual event CERAWeek by IHS Markit on Tuesday

The Ministry of Petroleum and Natural Gas aims to conduct the third round of auctions for discovered small fields (DSF) of crude oil and gas in the next two to three months.

“Two-three months is what we are aiming for,” said Amar Nath, Joint Secretary (Exploration), at virtual event CERAWeek by IHS Markit on Tuesday.

“We are actually trying to make it not a small round but a slightly more substantial round,” he said.

“Another area we were spending time on was once the fields are allotted, there are some issues related to approvals,” Nath added. “We are just trying to sort out these issues so that when the next round goes about, it is smooth and people are interested.”

In the two previous rounds of DSF auctions, 54 blocks – nearly 400 sq km in total area – have been awarded, SCL Das, Director General, Directorate General of Hydrocarbons, said at the event.

“We are now in the process of bringing up the third DSF round,” Das added. “Some monetisation is going to materialise in this quarter itself.”

Published on March 02, 2021

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