Discovered Small Field (DSF) Bid Round III for international competitive bidding was launched at an event chaired by Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel. 

The virtual event was attended by more than 450 participants including major E&P (Exploration and Production) players, prospective new entrants and service providers. 

Delivering his keynote address on the occasion, Pradhan asked DG, Hydrocarbons and the Petroleum Ministry to devise innovative ways for early resource monetisation, including expediting production timelines under DSF I and II. He urged that the work on DSF should be done at exponential speed and on a mission-mode to monetise our natural resources for greater public welfare. He said that inauguration of DSF Bid Round III is one more concrete step towards unlocking resources. 

Pradhan said that the Modi government has consistently revitalised regulatory regimes to prioritise domestic production of Oil & Gas and to unleash the full hydrocarbon potential of India. 

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. 

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.