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Friday, 30 June 2017

Govt. unveils new hydrocarbon policy


Petroleum Minister Dharmendra Pradhan introduced a new oil and gas block licensing policy that is expected to open up 2.8 million square kilometers of sedimentary basins to exploration and production activities.

The Minister was at the inauguration of the government’s Open Acreage Licensing Policy (OALP) and the National Data Repository. The OALP, a part of the government’s Hydrocarbon Exploration and Licensing Policy (HELP), gives exploration companies the option to select the exploration blocks on their own, without having to wait for the formal bid round from the Government.

Source- The Hindu


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