Discovered Small Field bid round-III for international competitive bidding

Discovered Small Field (DSF) bid round-III for international competitive bidding was launched by Shri Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Steel to awarding discovered acreages and monetize the unmonetized discoveries.

Daily Current Affairs Quiz 2021

Encouraged by the success of DSF bid rounds-I &II, the Government of India has extended the DSF Policy by launching DSF bid round-III.

Previous two DSF rounds had a resounding success. 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 area. 24 Revenue Sharing Contracts were signed.

The DSF policy has multiple attractive features like revenue sharing contract model with low regulatory burden, no minimum biddable work programme, no prior technical qualification required, no upfront signature bonus, etc.