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AUG 10 2018

India launches second auction of small discovered oil & gas blocks

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 10th AUG 2018


India launched its second auction of small discovered oil and gas blocks on Thursday, as the south Asian nation looks to quickly monetise its hydrocarbon resources.

The bidding for 59 fields will begin in the first week of September and will close on December 18.

The contracts will be awarded in January, oil minister Dharmendra Pradhan said.

The blocks offered under the latest round has reserves of about 1.4 billion barrels, he added.




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