HONOR
Cabinet awards 31 oil blocks to 22 firms
NEW DELHI .The Union Cabinet has awarded 31 oil and gas exploration blocks (44 fields) to 23 companies, of the 46 contract areas put on offer under the discovered small and marginal fields (DSF) round of auction. State-owned refiners BPCL, HPCL and IOC alongside a company floated by directors of drugmaker Sun Pharmaceuticals were today declared as winners of the much-hyped small oil and gas field discovery auction.
This is likely to bring in a gross revenue of Rs 46,000 crore over a period of 15 years, of which the government’s share is likely to be Rs 9,600 crore. Blocks not cleared for awarding are likely to be put on offer during the second round of DSF. Of the 23 companies, about 15 are entrants to the sector.
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