Open Acreage Licensing Policy

06.01.2024

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Why in the news? 

Recently, Open Acreage Licensing Policy Bid Round-IX has been launched.

Important points:

• On contracts for 10 blocks awarded under Open Acreage Licensing Policy (OALP) Bidding Round-VIII and 3 Coal Bed Methane (CBM) blocks awarded under Special CBM Bidding Round-SCBM 2022 by the Ministry of Petroleum and Natural Gas (MoPNG). Also signed.
• The MoU was signed in the presence of Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas and Housing and Urban Affairs.

About Open Acreage Licensing Policy Bid Round-IX:

• The ninth bidding round under the Open Acreage Licensing Policy (OALP) was launched by the Union Ministry of Petroleum and Natural Gas.
• In which 28 hydrocarbon blocks spread over eight sedimentary basins have been offered to increase domestic oil and gas production.
• Of the 28 blocks, 23 are based on these expressions, and five have been prepared by the Directorate General of Hydrocarbons (DGH).
• The 28 blocks include nine onland, eight shallow water and 11 ultra-deep water blocks.
• This marks a significant expansion in India's effort to explore and produce more hydrocarbons domestically.
• The 28 blocks include nine onland, eight shallow water and 11 ultra-deep water blocks.
• This marks a significant expansion in India's effort to explore and produce more hydrocarbons domestically.

About Open Acreage Licensing Policy (OALP):

• Open Acreage Licensing Policy (OALP) was launched in June, 2017.
• Its main objective is to accelerate exploration and production (E&P) activities in India.
• The Hydrocarbon Exploration and Licensing Policy (HELP) replaced the earlier New Exploration Licensing Policy (NELP) in March 2016.
• Under the Hydrocarbon Exploration and Licensing Policy, Open Acreage Licensing (OALP) mechanism has been introduced which allows investors to create blocks of their choice by assessing the E&P data available on NDR and submitting Expression of Interest (EOI).
• EOIs can be submitted throughout the year without waiting for a formal bidding round from the Government.
• These blocks will later be offered through a biennial formal bidding process.
• The OALP will be leveraged through a National Data Repository which will rapidly boost E&P activities by providing seamless access to the entire G&G data of the country for interpretation and analysis.
• NDR is a government sponsored E&P data bank with state-of-the-art facilities and infrastructure for preservation, maintenance and dissemination of data to enable its systematic use for future exploration and development.

                                                                   Source:PIB