Page 104 - DGH_Annual_Report

104 INDIA'S HYDROCARBON OUTLOOK 2024-2025

The policy provides pricing and marketing: 6.4 OVERVIEW OF DSF BID ROUNDS
Operators have pricing and marketing
freedom for oil and gas, allowing them to Up to FY 2024–25, the Government of India
determine the pricing of their products and conducted three DSF bid rounds. Also, Special
explore various marketing strategies. DSF Bid Round (SDSFR 2024) was launched on
May 28, 2024 for which bidding process is over
No Carried Interest by NOCs: The policy and contract would be awarded shortly. Further,
does not require National Oil Companies a DSF Bid Round-IV is soon to be launched in early
(NOCs) to hold a carried interest in the FY 2025-26. All bid rounds utilize a transparent
projects, providing more autonomy to online portal, offering bidders and investors
contractors. strong support for a seamless experience.

Single PML License: The Policy offers Together, the earlier bid rounds including the
a single Petroleum Mining Lease (PML) SDSFR 2024 offered 105 Contract Areas with 204
license that covers both conventional and hydrocarbon discoveries across 10 sedimentary
non-conventional hydrocarbons, simplifying basins (7 Category-I and 3 Category-II), covering
administrative processes for operators. around 17,593 sq. km.

Flexibility in Exploration Activities: During Out of these, 85 Contract Areas have been
the contract period, there are no restrictions awarded to 35 Indian and foreign companies,
on exploration activities, allowing operators spanning 16,508 sq. km under DSF Bid Rounds-I,
to adapt their strategies based on evolving II and III. SDSR 2024 will be awarded in early FY
conditions and information. 2025-26.

No prior experience: No prior technical These awarded blocks include 175 discoveries,
experience is required for bidding, thus with an estimated 464 Million Metric Tonnes of
enabling wider participation, including start- oil equivalent (MMtoe) in-place reserves.
ups and new entrants in the E&P domain.

Table 6.1: Summary of DSF Contract Areas till FY 2024-25

Sl. No. DESCRIPTION DSF-I DSF-II DSF-III SDSFR 2024 Total
1 Contract Areas Offered 46 25 32 2 105

2 Discoveries on Offer 67 59 75 3 204
3 Contract Areas Awarded 30 24 31 To be 85
4 Discoveries Awarded 43 58 74 awarded in 175
April 2025
5 Area Awarded (sq. km) 777 3,004 12,727 16,508

6 In-place Reserves Awarded 45 189 230 464
(MMtoe)
7 New Entrants (Companies) 29