Discovered Small Fields Policy

For early monetization of unmonetized discoveries of National Oil Companies (NoCs), Government in September, 2015 approved 69 marginal fields/discoveries for offer under Discovered Small Fields Policy. These Contract Areas are awarded under the new regime of Revenue Sharing Model. First bidding round under the Discovered Small Field Policy was launched on 25th May 2016, offering 67 discovered small fields/discoveries clubbed into 46 Contract Areas for international bidding. Total 30 contracts for 43 discovered small fields/discoveries were signed in March, 2017. It is expected that in-place locked hydrocarbons reserves of 40 Million Metric Tonnes (MMT) of oil and 22 Billion Cubic Metres (BCM) of gas will be monetised over a period of 15 years. On 7th February, 2018, Government approved the Discovered Small Field (DSF) Policy Bid Round-II, an extension of the Discovered Small Field Policy notified on 14.10.2015. Under DSF Bidding Round-II, 59 discovered small fields/unmonetized discoveries estimated to have 189.61 Million Metric Tonnes (MMT) Oil and Oil equivalent gas in-place are offered for bidding. Total 23 contracts comprising 57 contract areas/discoveries were signed in March-2019.

Important Links: Upcoming Rounds: 

Detailed Note on Policies: