Cairn Oil and Gas won two oil blocks in Assam for exploration

India's largest private sector operator, Cairn Oil and Gas have won two oil blocks for exploration in Discovered Small Fields (DSF-3) in Assam.

Centre has awarded contracts for 31 oil and gas developments through the third Discovered Small Fields (DSF-3) competitive bidding round, which is the biggest ever offering with known oil and gas accumulations.

Of the eight blocks won by Cairn Oil & Gas, five are offshore — in the Cambay, Kutch, Mumbai and Krishna Godavari basins - and three are onshore — two in Assam and one in Madhya Pradesh,” the company said.

The company noted that the eight blocks are expected to produce up to 84 million barrels of oil equivalent over the next decade or two.

State-controlled Oil & Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC) and private sector giant Vedanta — parent of Cairn Oil & Gas — were among the key players to win multiple areas.

ONGC signed deals for six offshore contracts areas — three for fields in the Arabian Sea and three in the Bay of Bengal, the company said on Friday.

The company won four of these six contracts as a sole bidder, while the other two were awarded in a partnership with IOC, the company noted.

The winners for additional DSF-3 tracts are said to include relatively smaller domestic players, according to industry sources.

A total of 11 onshore, 20 shallow-water tracts and one deep-water contract area were offered by the Indian government as a part of the DSF-3 offering.

The onshore blocks are located in the Assam Arakan belt and the Rajasthan, Cambay, Vindhyan and Krishna Godavari basins.

The offshore acreages are located in the Cauvery, Cambay, Kutch, Mumbai and Krishna Godavari basins, Upstream understands.

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