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ONGC Signed Contracts for Discovered Small Fields

Published on September 11, 2022
Current Context: Oil and Natural Gas Corporation (ONGC) inked contracts for offshore Discovered Small Fields (DSF).
ONGC Signed Contracts for Discovered Small Fields
  • ONGC has signed six contracts, three each in the Bay of Bengal and the Arabian Sea.
  • The contracts were exchanged in the presence of Hardeep Singh Puri, the Minister of Petroleum & Natural Gas, and ONGC CMD Rajesh Kumar Srivastava.
  • The contracts were obtained under the Discovered Small Field-III (DSF-III) bid round.
  • Out of these six contracts, four contract areas were awarded to the ONGC as a sole bidder, and two contract areas were awarded in partnership with Indian Oil Corporation Limited (IOCL).
  • The oil refinery will invest a sum of USD 1,894.5 million (Rs 15,000 Cr.) in these six projects for the development of these blocks.
  • ONGC is Public Sector Undertaking (PSU), under the Ministry of Petroleum and Natural Gas, and is responsible for the exploration of oil and natural gas. It was founded in 1956 with its headquarters in New Delhi. The current CMD of the ONGC is Rajesh Kumar Srivastava.

Question:

Q.1 Which company has signed contracts for offshore Discovered Small fields?
a. Bharat Petroleum
b. Oil and Natural Gas Corporation
c. Hindustan Petroleum
d. Nayara Energy Limited
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