(a) whether it is true that the locations where Government agencies have discovered oil and natural gas blocks have been allotted to the private companies for extraction of oil and natural gas during the last three years and the current year and if so, the details thereof, year-wise and location-wise; and
(b) the details of expenditure incurred by the Government in discovery of oil and natural gas along with the details of profit made by the Government agencies through such discoveries?
MINISTER IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a): With a view to increase domestic production of oil and gas, Government has brought out Discovered Small Field (DSF) Policy for monetising the unmonetised /relinquished discoveries of Nomination and PSC regimes. These discoveries clustered in Contract Areas have been awarded under the new regime of Revenue Sharing Model. Till date, two DSF Bid rounds have been conducted. 30 Contract Areas were awarded in DSF Round I and 23 in DSF Round II. Location-wise list of awards under two DSF Bidding Rounds is given at Annexure I & II.
(b): As informed by ONGC, an amount of Rs. 12,826 crore has been spent by ONGC on the discoveries/fields identified in the first and second round of Discovered Small Field Policy. An amount of Rs. 224.27 crore has been spent by OIL in this regard. The discoveries have been offered under Revenue Sharing Contracts where the operator will be sharing biddable percentage share of revenue to the Government, besides paying royalty. Actual revenue realization from the fields may vary based on development strategy adopted, actual production realized, techno-economics of the individual field and price of oil and gas, etc.