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Petroleum Exploration Licenses (PEL) for conventional dom estic exploration &
production of crude Oil and natural gas were granted under four different regim es
over a period tim e.
1. Nom ination Basis
Till the end of 1970s, Indian E&P industry was dom inated by the two
National Oil Com panies (NOCs) ONGC and Oil
PELs were granted on nom ination basis.
%.
Prior to bidding, two or m ore parties review technical data of the desired
block. Then they give various data including No. of wells they want to drill in
that area.
For DSF
Bidder with the highest total num ber of Wells will be assigned 20 points and
other bidders will be assigned points on relative basis
Bidders will bid the percentage share of the revenue offered to the
governm ent at the two revenue points LRP and HRP.
The bidder with the highest net present value (NPV) of revenue share offered
to the governm ent will get 80 points.
Then both m arks are added and then rank is given to them .
For calculating the NPV price, production scenarios have been provided in the
notice inviting offers (NIO)prior to deciding whether to bid on a concession.