Page 44 - Policy Economic Report_Jan 25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

? Discovered Small Field Policy (DSF) Policy: Government introduced DSF Policy in Year
2015. Three Rounds of DSF Bidding concluded till date and 85 Contracts signed whereas
55 Contracts are currently active. 5 fields are on Production and cumulative production
till March 2024 is 520 Mbbl Oil and 138 MMSCM Gas. DSF Rounds has brought 15 New
Players.

? CBM in India: With 15 Blocks and a production rate of 1.8 MMSCMD, CBM has achieved
a cumulative production of ~6.38 BCM, with more than USD 2.46 billion investment
received till date. More blocks are being identified for offer in future bid rounds.

? No-Go areas opened for E&P: Around 99% of erstwhile ‘No-Go’ area of the Exclusive
Economic Zone (EEZ) which were blocked exploration for decades have been opened for
E&P. After the release of ‘No-Go’ areas, so far bids/expression of interests for 1,52,325
Sq. Km. area have been received. Two gas discoveries have also been made by ONGC in
Mahanadi offshore recently in a block having 94% area in ‘No-Go’ area. Andaman offshore
area has also been opened for exploration and production activities after a long-time post
removal of restrictions imposed by defense and space agencies.

? Government Funded Programs for E&P: The Government is committed to increase
exploration in Indian sedimentary basins. An investment of around Rs. 7,500 crore is
planned for acquisition of new seismic data, including that of the Exclusive Economic Zone
(EEZ), financing stratigraphic wells and acquiring aerial survey data in difficult terrains in
the recently launched Mission Anveshan and Extended Continental Shelf Survey Schemes.

? Stratigraphic Wells: Four offshore stratigraphic wells in Category-II and Category-III
basins, namely Mahanadi, Bengal, Saurashtra and Andamans, with the outlay of Rs 3200
crores will help understand the sub surface geology better in these basins where
prospectivity is yet to be commercially established. [figure Rs.3200 crore is included in
the figure of Rs.7500 crore mentioned in the above point]

? National Data Repository: In July 2017, Government of India has set up an E&P data bank,
National Data Repository (NDR), with state-of-the-art facilities and infrastructure for
preservation, upkeep and dissemination of data to enable its systematic use for future
exploration and development. Having an NDR for India has helped in enhancing prospects
of petroleum exploration and facilitating the Bidding Rounds by improving the availability
of quality data. National Data Repository (NDR) is being upgraded to a cloud based NDR,
which will enable instant dissemination of seismic, well and production data. The project
is expected to be completed by the end of this financial year.

? National Seismic Program: Government formulated National Seismic Programme (NSP) in
October, 2016 to appraise the unappraised areas in all sedimentary basins of India where
no/scanty data was available. Under the programme, Government approved the proposal
for conducting 2D seismic survey for data Acquisition, Processing and Interpretation (API)
of 48,243 Line Kilo Metres (LKM). A total of 46,960 LKM (~97%) 2D seismic data could be
acquired out of the target 48,243 LKM. Processing and interpretation of 46,960 LKM data
has been completed and the data has been submitted to National Data Repository (NDR)
along with reports.

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