Bid round –II for Discovered Small Fields Policy (DSF)

In a bid to maintain imperative growth of country's Oil & Gas sector, the government of India has adopted a number of reforms, including Open Acreage Licensing Policy (OALP), and the Discovered Small Fields (DSF) policy.

Energy consumption in India

India has recently became fifth-largest economy of the world by surpassing "France" and is set to leapfrog Britain to become the fourth-largest. This makes India 3rd largest energy consumer in the world.

The consumption is further expected to grow by 4.2 per cent p.a. which is faster than all major economies. Moreover, International Energy Agency (IEA) indicates that India's energy growth is expected to account for almost one-third of the world by 2040.

In order to maintain Energy Access, Energy Efficiency, Energy Sustainability and Energy Security and accessibility to its people, it is imperative that the country's oil and gas sector grows consistently.

What is "Discovered Small Fields (DSF)" Policy ?

Discovered Small Fields Policy was launched by Ministry of Petroleum and Natural Gas in 2016, the policy was aimed at extracting the Oil, Natural gas from the un-monetized small oil/gas discoveries that are available in the country.

Bid process was started for these un-monetized sources and Round-I was completed in a record time of 10 months with splendid success, first oil/gas is expected in 2019-20.

Government is now came up with Round-II of Discovered Small Fields Policy, the scheme has easy entry and investor friendly policy where no previous technical experience required for bidders.

Revenue Sharing Contracts will ensure better fiscal system, where large field areas are offered in already producing basins.

Single licence is to be provided for all types of hydrocarbons, exploration is allowed during the entire contract period, full pricing and marketing freedom.

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