Bharat Petroleum Corporation's exploration and production arm, Bharat Petro Resources (BPRL) is planning to participate in the second round of bidding process for small discovered oil fields for exploration of hydrocarbons with consortium approach.
"We are likely to participate in the second round of bidding process for small discovered oil fields for exploration of hydrocarbons with consortium approach. But we could also go in with solo approach," BPRL's Managing Director Ajay Kumar V said in a statement issued here.
He said the company may go solo to take part in the proposed bidding process for discovery of all kind of hydrocarbons in small discovered oil fields when the government offers them for their commercial exploration in near future.
"The detailing on this front is being worked out and whether the consortium would have one company or more than one companies be decided in near future," he said, adding, "given the potential and possibilities of reserves of hydrocarbons in the small fields, the company can bid alone."
The Directorate General of Hydrocarbons (DGH) had received 134 e-bids for 34 of the 46 contract areas on offer under discovered small fields (DSF) bid process in last year.
A total of 42 companies had participated, of which five were public sector undertakings/subsidiaries, 32 domestic private companies and five foreign private companies, according to DGH.
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