In line with Prime Minister’s vision for reduction of India’s oil imports by 10 per cent by 2022, and in a bid to boost domestic oil and gas production, the Ministry of Petroleum and Natural Gas (MoPNG) had announced the Discovered Small Field (DSF) bid round 2016 to take place on May 25. Discovered small fields are oil and gas blocks which have so far remained commercially undeveloped but have come into focus as the Central Government seeks to boost domestic hydrocarbon production.
The auction of 67 nos. of discovered small and marginal fields (46 Contract Areas) which ended on 21st November, 2016, has received very encouraging response during which multiple bids have been received for different blocks.