Second round of auction of DSF fields to be launched soon

The launch of the second round of auctions for discovered oil and gas fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Limited is expected to be introduced soon. The government is also looking at giving incentives for enhanced and improved oil recovery schemes to help reverse the declining trend in output from ageing fields. Also, production enhancement contracts are on the cards for ONGC’s producing fields where operations can be outsourced after setting a minimum benchmark output level.