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The Cabinet Committee on Economic Affairs (CCEA) has approved the award of 31 contract areas as part of the Discovered Small Field (DSF) Bid Round 2016. These fields were offered under the new policy for small fields known as Discovered Small Field (DSF) policy, 2015, which offers improved fiscal terms with the aim to enhance oil & gas production and reducing import dependency of the country.
These fields were offered through an open and transparent international competitive bidding process. The bidding was open to all, including oil companies (i.e., ONGC & OIL) and other Central and state PSUs.