The government on Monday signed contracts of fields awarded under the Discovered Small Field Bid Round 2016. The government estimates a total revenue of Rs 46,400 crore from these 31 contract areas. A press statement from the Directorate-General of Hydrocarbons noted, "Gross royalty collection and state royalty collection is expected to be around Rs 5,000 crore and Rs 2,100 crore respectively."
The government expects a revenue share of Rs 9,300 crore.
The government has awarded 31 contract areas to 22 companies, of which 15 are new entrants to the exploration and production industry.