India launching bid round for small fields

India is launching a bid round for 67 small fields in 46 contract areas in nine sedimentary basins, reported India’s Press Information Bureau.

The fields, onshore and offshore, have been discovered by India’s national oil companies. The bid round will have no mandatory domestic participation. It will also have no mandatory work program or mandatory prior technical experience for the bidders. There will be no restriction on exploration during the contract period.

The Discovered Small Field Policy “is designed to be investor friendly” and is based on an “easy-to-administer” revenue-sharing contract model (OGJ Online, Sept. 2, 2015).

Goods and services imported for petroleum operations will be exempted from custom duty.

The round begins May 25 in New Delhi in an event led by Dharmendra Pradhan, the petroleum and natural gas minister. Road shows to attract investors are being planned in India and abroad.

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