India’s Hydrocarbon Outlook 2024 146 A Report on Exploration & Production Activities ii. Discovered Small Field Bid Round-II (2018) Following the successful implementation of DSF Bid Round I in 2016, the Government of India extended the DSF Policy of 2015 for future rounds in April 2018. This extension maintained the benefits of the original policy while reducing the royalty rates to align with the Hydrocarbon Exploration & Licensing Policy (HELP). The DSF Bid Round-II launched on August 09, 2018. During this round, Government of India offered 25 Contract Areas with 59 discoveries across seven sedimentary basins, covering about 3,042 square kilometres of area and having 190 Million Metric Tonnes (O+OEG) of inplace reserves. As a result of DSF Bid Round-II, the Government of India awarded 24 Contract Areas, and the Revenue Sharing Contract (RSC) for 23 no’s of awarded Contract Areas were signed on March 07, 2019 with the successful awardee companies. Additionally, the Revenue Sharing Contract for one Contract Area was signed in January 2021 with a successful awardee company. These 24 Contract Areas, including 15 onshore and 09 shallow offshore blocks with 58 discoveries across seven sedimentary basins, covering approximately 3,004 square kilometres of area and having 188.9 Million Metric Tonnes (O+OEG) of in-place reserves. A total of 145 e-bids were received: 103 for onshore contract areas and 42 for offshore areas. The round attracted participation from 40 companies, either individually or as part of consortia, including six foreign companies from the USA, UK, Australia, Singapore, and UAE. DSF Bid Round II saw significant interest from both new entrants in India and international players. After a detailed evaluation, 14 companies (either individually or in consortia) were shortlisted for 23 contract areas, with eight of these companies being new entrants to the E&P sector. The DSF Round II was designed to provide industry professionals the opportunity to invest in larger areas within already discovered basins, offering minimal-risk investment opportunities. The entire bidding process was conducted digitally through a secure, transparent, and user-friendly e-bidding portal. Key highlights of DSF Bid Round II include: • A total of 145 bids were received for 24 contract areas, with no bids for one area. • 40 companies participated, either individually or as part of consortia. • Six foreign companies showed significant interest. • 14 companies were shortlisted for 23 contract areas after a rigorous evaluation, with eight being new to the E&P sector. • As a result, 23 Revenue Sharing Contracts, covering 57 discoveries, were signed on March 7, 2019. • Additionally, Revenue Sharing Contract for one Contract Area, covering 1 discovery, was signed in January 2021 with a successful awardee company. Figure 6.1: Status of Contract Areas awarded under DSF Bid Round-I 11 CA's 37% 4 CA's 13% 15 CA's 50% Active PML pending with State authority Terminated/Relinquished
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