Government offers 32 areas in latest small oil, gas field auction

India is the world’s third biggest oil importer and consumer

Topics

Centre | oil and gas | oil and gas field


Reuters  | 
NEW DELHI 

The SPQ1 gas platform is seen on the southern edge of Iran's South Pars gas field in the Gulf, off Assalouyeh, 1,000 km (621 miles) south of Tehran

Representational image

India on Thursday launched its third auction of small discovered fields offering 32 contract areas with 75 oil and gas discoveries, said Anand Gupta, additional director general of the Directorate General of Hydrocarbons.

Of the 75 discoveries 54 are in shallow water, 2 in deepwater and 19 are on land, Gupta said.

India, the world’s third biggest oil importer and consumer, wants to quickly monetise is oil and gas resources.

In the previous two rounds India awarded 54 contract areas.

(Reporting by Nidhi Verma; editing by Jason Neely)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, June 10 2021. 14:54 IST