ONGC invites bids for gas sale from Gamij field

ONGC will begin gas sales from Gamij field in Kheda district of Gujarat to the private sector soon through e-bidding process, the company said.

Last Updated: Jul 15, 2012, 22:43 PM IST

New Delhi: ONGC will begin gas sales from Gamij field in Kheda district of Gujarat to the private sector soon through e-bidding process, the company said.

The first of its kind initiative taken by the oil and gas PSU, is likely to benefit existing and upcoming SMEs around this field besides helping the company monetise its small assets.

"Gamij becomes the first small marginal field of ONGC to commence gas sale through an e-tendering process, having potential of 15,000 standard cubic metres per day (SCMD) on fall back basis (as & when available) for a period of five years," an ONGC spokesperson said.

The delivery point for this gas is Gas Gathering Station (GGS)-3 located at Halderwas in Kheda district.

The field is expected to generate an annual revenue of Rs 5.5 crore, over the next five years, officials said.

"The price of gas under bid is as per non-APM gas price issued by Ministry of Petroleum and Natural Gas. The pre-bid conference will be held on August 16," an official said.

The pilot project on direct sale of natural gas from ONGC's isolated marginal field in Gujarat, is likely to be replicated elsewhere like in Ankleshwar asset in Gujarat, Rajamundry in Andhra Pradesh, Assam and Kauvery basin in Pondicherry, to monetise its small marginal fields, he said.

PTI