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Pradeep Kumar

11/06/21 11:14 AM IST

Small Field Bid Round-III launched

In news

Discovered Small Field (DSF) bid round-III for international competitive bidding was launched.

Highlights
  • The virtual event was attended by more than 450 participants including major E&P players, prospective new entrants, and service providers.
  • DSF bid round-III is offering 32 Contract Areas which comprise 75 discoveries.
  • These fields are spread over 9 sedimentary basins covering more than 13,000 square kilometers with Inplace Hydrocarbon estimated to be around 230 MMT. 
  • Geoscientific data for fields on offer will be showcased through Data Room with interpretation facilities which would assist the potential bidder in making an informed decision. 
  • The government of India had launched Discovered Small Field (DSF) Policy in 2015 which was a monumental step for awarding discovered acreages and monetize the unmonetized discoveries.
Discovered Small Field (DSF) Policy
  • For early monetization of unmonetized discoveries of National Oil Companies (NoCs), the Government in September 2015 approved 69 marginal fields/discoveries for offer under Discovered Small Fields Policy.
  • These Contract Areas are awarded under the new regime of the Revenue Sharing Model.
  • The first bidding round under the Discovered Small Field Policy was launched on 25th May 2016, offering 67 discovered small fields/discoveries clubbed into 46 Contract Areas for international bidding.
  • Total 30 contracts for 43 discovered small fields/discoveries were signed in March 2017. 
Source: PIB

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