India's Hydrocarbon Outlook – 2022-2023

143 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL offshore contract areas. The bid round saw an impressive turnout of 40 companies, individually or as a member of the bidding consortium, including six foreign companies from countries such as the USA, UK, Australia, Singapore, and UAE. This bid round was particularly remarkable, as it witnessed more participation than expected from new entrants from India and foreign countries. After a detailed evaluation process, 14 Companies (singly or in Consortium) were shortlisted for award in 23 Contract Areas. Out of these 14 Companies, eight are new entrants in the E&P Sector. The DSF Round II was designed to provide industry professionals with an opportunity to invest in larger areas on offer in already discovered basins, thus offering investment opportunities at minimal risk. The DSF round-II process was conducted entirely digitally, offering a transparent, secure, and easy bidding process through a state-of- the-art e-bidding portal. A total of 145 bids were received for 24 Contract Areas, with no bids received for 01 contract area. A notable turnout of 40 companies, individually or as members of bidding consortiums, participated in the bidding process. Additionally, 6 foreign companies also participated in the bidding round, reflecting a significant international interest in the process. After a rigorous evaluation process, 14 companies, either individually or as consortiums, were shortlisted for award in 23 Contract Areas. Impressively, 8 of these companies were new entrants to the E&P Sector. As a result of the bidding round, a total of 23 Revenue Sharing Contracts, comprising 57 discoveries, were signed on March 7, 2019. Subsequently, an additional Revenue Sharing Contract was signed in January 2021 with the successful awardee company. Key highlights of DSF Bid Round-II: