NEW DELHI: Little-known private companies have won 13 of 23 licenses to develop discovered small oil fields in the second round of auction. ONGCNSE 0.30 %, Oil IndiaNSE 2.18 %, Indian OilNSE 2.39 %, Vedanta and Hindustan Oil ExplorationNSE 3.87 % won the remaining fields.
The Empowered Committee of Secretaries and Group of Ministers on Friday approved the award of 23 contract areas to highest bidders, according to an official statement.
ONGC won five in the auction that offered 25 contracts areas comprising 59 discovered small oil and gas fields. Oil India won two contract areas. One contract area received no bid, and a decision on another was held back due to litigation.
