Discovered Small Field Bid Round-III launched

Posted On: 10 JUN 2021 4:57PM by PIB Delhi

Discovered Small Field Bid Round-III launched

Discovered Small Field (DSF) bid round-III for international competitive bidding was launched today, at an event chaired by Shri Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel. 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 the Data Room with interpretation facilities which would assist the potential bidder in making informed decisions. An online pre-bid conference will be scheduled on 30th June 2021 to clarify the doubts of bidders. The bidders will be able to submit their bids till 31st August 2021.

Encouraged by the success of DSF bid rounds-I &II, the Government of India has extended the DSF Policy by launching DSF bid round-III. Previous two DSF rounds had a resounding success. In DSF Round – I launched in 2016, 134 bids were submitted for 34 contract areas by 47 companies. 30 Revenue Sharing Contracts were signed. In DSF Round – II launched in 2018, 145 bids were submitted for 24 contract area. 24 Revenue Sharing Contracts were signed.

The Government of India had launched the Discovered Small Field (DSF) Policy in 2015 which was a monumental step for awarding discovered acreages and monetizing the unmonetized discoveries. The DSF policy has multiple attractive features like revenue sharing contract model with low regulatory burden, no minimum biddable work programme, no prior technical qualification required, no upfront signature bonus, etc.

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