ONGC signs a contract for Chinnewala Tibba gas field

11 March 2019

Oil and Natural Gas Corporation (ONGC) has signed a contract for the prolific Chinnewala Tibba gas field in Rajasthan. ONGC won back five out of the 23 discovered oil and gas fields that the government took away from the state-owned firm and Oil India Ltd (OIL) for auctioning in the second round of discovered small field (DSF).

Chinnewala Tibba gas field
Source: Google

Chinnewala Tibba was the most-contested field in DSF-II with as many as 17 bids being put in. ONGC won the field as also four others after bid evaluation and award was completed recently.

OIL and Vedanta Ltd signed contracts for two fields each they had won while lesser known Ganges Geo-Resources Pvt Ltd signed for five fields.

State-owned Indian Oil Corp (IOC) and its partner Hindustan Oil Exploration Company Ltd (HOEC) signed for one field they won in the auction. Arch Softwares Pvt Ltd, a firm backed by former Cairn India executive Suniti Bhat, won two offshore fields.

The remaining fields went to little-known firms such as Shanti GD Ispat Power, Arsh Corporate Services, Invenire Energy, Keerthi Industries, and Gem Petro E&P.

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