Second tranche of oil fields on offer, Vedanta to get 41 OALP blocks: Govt

Petroleum Minister Dharmendra Pradhan

India rolled out the second auction for discovered small fields (DSF-II) on Thursday, which is likely to bring in investment to the tune of Rs 1 trillion in the sector and contribute about Rs 450 billion revenue to the government.

Petroleum Minister Dharmendra Pradhan said the government will be signing contracts for the first round of Open Acreage Licensing Policy (OALP) in a week’s time. OALP and DSF have replaced bidding under the New Exploration