Top News
Cabinet approves auction of 60 more small oil, gas fields
New Delhi, Feb 8 (IANS) The government has approved inviting bids to develop 60 more discovered oil and gas fields under the second round of the Discovered Small Fields (DSF) auction this year, Petroleum Minister Dharmendra Pradhan announced on Thursday.
The Cabinet on Wednesday approved the auction to be held under the DSF second round in order to speedily into production these fields estimated to hold reserves of 195 million tonnes (MT) of oil and oil equivalent gas.
“DSF II is a replica of DSF I,” Pradhan told reporters here.
Queried on a timeline for the auction, he said it was being worked out and would be announced once the ministry has dealt with the bidding that is already open under the Open Acreage Licensing Policy (OALP).
Of the 60 fields, 22 belong to state-run Oil and Natural Gas Corp (ONGC) and 5 to Oil India Ltd (OIL), which were not developed for various reasons including their small size, a Petroleum Ministry statement said.
Twelve fields to be offered in DSF II were relinquished fields and discoveries from blocks offered in bids rounds under the earlier New Exploration Licensing Policy (NELP), it said.
The remaining 21 fields are those that did not receive any bid in the DSF first round last year, the statement added.
“These fields will be developed and monetised faster, thereby augmenting production of oil and gas leading to enhance energy security of the country,” it said.
According to the Ministry, investments into these fields will lead to generation of over 88,000 jobs as direct, indirect and induced employment.
An Empowered Committee of Secretaries (ECS) consisting of the Petroleum, Expenditure and Law Secretaries will finalise and approve the model Revenue Sharing Contract, Notice Inviting Offer and other documents for DSF-II.
“The award of contract will be approved by the Minister of Petroleum and Natural gas and Minister of Finance based on the recommendations of ECS,” the statement said.
Following DSF-I, contracts for 31 fields were signed last year.
The auctions are under the new Hydrocarbon Exploration and Licensing Policy (HELP) approved in 2016, which is based on a new revenue-sharing model as opposed to cost-and-output-based norms earlier.
–IANS
bc/vd
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.