India to auction 60 small discovered oil, gas fields

NEW DELHI: India will auction 60 discovered small oil and fuel fields with the prospective to provide 194.65 million tonnes of oil and oil similar fuel, the federal government mentioned in a tweet after a cupboard assembly.

Blocks that shall be auctioned were at the beginning managed by Oil and Natural Gas Corp and Oil India Ltd. The fields have remained undeveloped for years due to their small measurement and the top value of development.


India, the arena's third-biggest oil client, imports nearly three-quarters of its power requirements, however Prime Minister Narendra Modi has set a goal of slicing its fuel import dependency to two-thirds by 2022 and to part by 2030.


India's earlier auction of discovered small fields in 2016 was dominated by small Indian bidders.
India to auction 60 small discovered oil, gas fields India to auction 60 small discovered oil, gas fields Reviewed by kailash soni on February 08, 2018 Rating: 5
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