Govt defers deadline for small oil & gas field bids
The government has postponed by three weeks the last date for bidding for auction of 46 small oil and gas fields that were given up by state-owned ONGC and Oil India.
“Last date of bid submission extended till November 21, 2016, 1200 hours IST,” the Directorate General of Hydrocarbons (DGH) said on the website of the ‘Discovered Small Field Bid Round 2016’.
Bidding for the auction, the first in over four years, was to earlier close on October 31. While potential bidders had sought more data on the fields on offer to make informed decision on bidding, an official said the date was extended as bids were closing during the Diwali holiday.
Industry sources said there were apprehensions about the response after prospective bidders complained about the quality and amount of data being made available on the fields that have been put on offer.