Oilfield Auction
Trump administration set for its last auction of US oil drilling rights
Biden has said he would halt new oil and gas leases on federal lands and waters, but he has not laid out a method or timeline for realizing that goal
 "Trump administration set for its last auction of US oil drilling rights")
After receiving 50 bids, oilfield auction deadline deferred again
50 bids were received for the second round of auctions for DSF-II oil and gas assets
 "After receiving 50 bids, oilfield auction deadline deferred again")
First oil from small field award in 4 months, says bid winner
In the recently concluded auctions for small oilfield discoveries, a key investor attraction was a block in the Cambay basin. It got 19 bids. The winner here, Dubai-based South Asia Consultancy FZE, only foreign entity to have player to get a block in this round, expects to start production within four months.It believes that from a minimal investment of Rs 100 crore for five to six wells, it could unearth oil reserves worth at least Rs 5,000 crore from the contract area --- CB/ONDSF/South Patan/2016. "We have got a very lucrative area for exploration. By government estimates, the block has 3.2 million barrels of oil, worth Rs 1,200 crore. But, our geologist found the potential to be four to five times higher, in the range of Rs 5,000 crore," said its managing director, D S Rajput. The company specialises in offshore and onshore drilling and workover sectors as a service provider; it is present in Iran. The block has two existing wells. "We expect to be the first player to start ...
 "First oil from small field award in 4 months, says bid winner")
ExxonMobil, BP, RIL likely to give oilfield auction a miss
The government should have ideally clubbed two or more fields into a single unit to improve bidding prospects, say sources
