Energy Security

Discovered Small Field Policy

The Union Cabinet approved the extension of the Discovered Small Field Policy.

Key Points: The extension will apply to the identified 60 discovered small fields/un-monetized discoveries for offer under the Discovered Small Field Policy Bid Round-II.

This policy helps the development of smaller and marginal oil and gas fields which could not be developed due to isolated locations, small size, and prohibitive development costs.

Of these 60 fields, 22 belong to the Oil and Natural Gas Corporation Limited, five belong to

Remember This: Oil India Limited, and 12 are relinquished from the New Exploration and Licensing Policy Blocks. ....