Minister of Petroleum and Natural Gas & Housing and Urban Affairs Shri Hardeep Singh Puri July 30 launched the Discovered Small Field (DSF) Bid Round-III.
- Under the bid round, 75 discoveries across 32 Contract areas in 11 basins/locations are being offered. Estimated Hydrocarbon in place of approximately 232 MMTOE of oil and oil equivalent gas are on offer. T
- The salient features of DSF policy are: Revenue Sharing Model, Single License for Conventional& Unconventional Hydrocarbons, No upfront signature bonus, Reduced Royalty rate in line with HELP, no cess, Full marketing and Pricing freedom for gas produced, Exploration allowed during entire contract period, and 100% participation from foreign companies/ joint ventures.
- In the earlier two rounds, 54 contracts were awarded to 27 companies including 12 new entrants.
