Contracts for 74 Small Discovered Fields signed in 3rd round of DSF auction
Issue of NIO & MRSC of DSF-III 10th June 2021
Bid submission Starts 15th December 2021
Bid submission Closes 31st May 2022
Award & Signing of Contracts 10th September 2022
- After the successful award of 30 clusters of oilfields in DSF-I and 23 clusters in DSF-II, the Government of India launched the DSF Round-III.
- 32 Contract Areas comprising 75 Discoveries were on offer. Overwhelming response was received.
- Oil and Gas have been already discovered in these fields by ONGC, Oil India and other oil companies.
- These Discovered fields carry a lower risk with higher return.
- However, the economics will depend more on the value of the biddable parameters put in their bids by the investors and entrepreneurs.
- The biddable parameters are number of wells to be drilled and the percentage of revenue to be shared with the Government.
- Both parameters carry equal weight 50:50