The blocks host a total of 44 fields, discovered previously by state-owned players Oil & Natural Gas Corporation and Oil India but which were not developed for various reasons.
The 31 blocks are estimated to hold in-place oil and gas resources of 625 million barrels of oil equivalent.
Development of these small fields is seen as key to Prime Minister Narendra Modi’s plan to reduce oil imports by as much as 10% by 2022 and bolster India’s energy security.
The
