Minister of Petroleum and Natural Gas launched the Discovered Small Field (DSF) Bid Round-III.
- The government of India had launched Discovered Small Field (DSF) Policy in 2015 for awarding discovered acreages and monetize the unmonetized discoveries.
- The DSF policy has multiple attractive features like revenue sharing contract model with a low regulatory burden, no minimum biddable work program, no prior technical qualification required, no upfront signature bonus, etc.
- 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 areas.
- 24 Revenue Sharing Contracts were signed.
- 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.
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.