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Bidding for DSF-III to start April 1

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Bidding for 75 small and marginal oil and gas discoveries, mostly ONGC owned, will start April 1 and close on May 16. The third bidding round under the Discovered Small Fields policy (DSF-III) was launched on June 10 last year. The original deadline for submission of bids was August 31, 2021 but was postponed to October 29, 2021. The start of bidding was again put off this year to February 1 and closing slated for March 15.

DSF-III offers 32 contract areas, comprising 75 fields/discoveries, with a combined total area of more than 13,000 square kilometres. The fields on offer include a few of the nomination fields of national oil company, ONGC, and some of the relinquished/unmonetised discoveries. “Bid submission for DSF Bid Round-III will start on April 1, 2022,” the DGH said.

The Directorate General of Hydrocarbons (DGH) has offered 32 contract areas for monetising unmonetised discoveries of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL). Under the DSF policy, two bid rounds in 2016 and 2018 have been conducted wherein 54 contract areas with 101 fields were offered. According to the DGH, the 32 offered contract areas have a total resource potential of around 230 million tonnes of oil equivalent.

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