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Second auction of discovered oil, gas fields launched (Lead)
New Delhi, Aug 9 (IANS) Union Minister Dharmendra Pradhan on Thursday launched the second round bidding for Discovered Small Fields (DSF) having 190 million metric tons (MMT) of oil and oil equivalent of gas worth more than Rs 1 lakh crore. It is likely to fetch Rs 45,000 crore for the government.
“Under this round, 25 contract areas covering 59 discovered oil and gas fields spread over 3,000 sq km having currently known volumes of 190 MMT or 1.4 billion barrels oil and oil equivalent of gas are up for bidding,” Pradhan said at the launch here.
The Minister for Petroleum and Natural Gas said that if there is a complete bid it is likely to generate Rs 45,000 crore for the government exchequer and 85,000 new jobs.
The bidding will start in September first week and will continue till December 18.
Launching the Notice Inviting Offer (NIO) and Model Revenue Sharing Contract (MRSC) for DSF Bid Round-II, Pradhan said all pending reforms in exploration and production (E&P) sector have been brought about in the last four years by the Modi government.
Reforms like introduction of DSF policy, Hydrocarbon Exploration and Licensing Policy (HELP), National Data Repository (NDR) and Hydrocarbon Resource Reassessment Study are aligned to the four energy pillars laid down by Prime Minister Narendra Modi, he said. The pillars are access, efficiency, sustainability and security of energy.
Of the 25 contract areas on offer, 15 are onland fields and 10 are shallow offshore areas. There are six onland fields in Assam and Tripura, four onland fields each in Andhra Pradesh and Gujarat and one in Rajasthan. And, Mumbai Offshore has six shallow water areas, KG Offshore two, and one each in Mahanadi Offshore and Kutch Offshore.
The first round of bidding for DSF in 2016 had generated 134 bids for 34 contract areas of which 30 contracts were awarded. It saw entry of 13 companies that were new to the country’s E&P industry. The first round is likely to fetch Rs 9,300 crore for government and generate more than 37,500 employment, officials said.
“In the first round, Rs 34,600 crore of hydrocarbon resources were awarded while in the second round it is above Rs 1 lakh crore,” Pradhan said.
With just 17 per cent of proven basin, the country holds a huge potential for further exploration. India’s fiscal attractiveness has also improved with the transition from New Exploration Licensing Policy (NELP) created in 1997 to HELP in 2016 that replaced production sharing contracts with revenue sharing contracts, the official said.
–IANS
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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.