The Indian authorities have announced that 75 oil and gas discoveries are available in the "Discovered Small Fields (DSF-3) bid round which opens on 1st Feb and closes 15th March 2022 . The discoveries are in 32 contract areas, with improved terms (RSC with no signature bonus, greater contractual freedom etc) and opportunities to commercialise proven accumulations. The vast majority of our high-graded discoveries were drilled in the last decade by ONGC or OIL but the (then) contract terms made these finds unattractive & non-strategic for these major local players.
The discoveries are in the Assam-Arakan, Assam Shelf, Cambay, Cauvery, Krishna-Godavari, Kutch, Madhya Pradesh & Mumbai basins - both onshore and offshore. They range up to 350 mmboe in-place volumes - a very attractive size for a new entrant. Onshore opportunities are generally small (<2mmboe in-place) but get up to >45mmboe in-place. Whilst we assess some "discoveries" as "shows", there are some quality opportunities worthy of further analysis. Hydrocarbon type ranges from heavy oil, quality crudes to condensate and dry gas. We have screened the opportunities and have high-graded the discoveries we feel are worthy of further study. The average depth of our preferred discoveries is 8280ft (2524m), ranging from 3675 to 17300 ftss (1120 to 5273mss).
For our FREE REPORT on the potential in the DSF-3 licensing round, please email info@1stsom.com today.
We have compiled a TROVE database of >380 oil & gas fields and >260 discoveries in Indian basins and adjoining countries. Arrange a demo and save man-weeks searching for data on the geology of Indian oil and gas fields. Unlock the limited time available to search for analogues, on-trend opportunities and potential infrastructure opportunities for these discoveries. Find opportunities for synergies with existing and emergent hubs.
India remains the world's third-biggest oil importer and consumer with a pressing need for more domestic production.
Note: The FREE report is restricted to companies actively seeking acreage opportunities.