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These lesser-known firms set to make a mark in India's oil and gas sector

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions

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These blocks were earlier operated by PSU oil companies, but were eventually offered in auctions to all players, since the PSU giants with high costs did not find them lucrative enough

Twesh Mishra New Delhi

5 min read Last Updated : Jun 30 2021 | 2:39 PM IST

India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans.

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets

Topics : oil and gas sector oil and gas exploration Oil Exploration oil blocks oil & gas blocks auction Oil block auction public sector undertakings PSUs privatisation Kolkata

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