- Brand new oil and gas block licensing policy is introduced this Wednesday which will open up 2.8 million square kilometers of sedimentary basins for exploration and production activities.
Why government has come up with such policy?
- The lack of seismic sedimentary basin data had been hampering the oil and gas exploration and production sector till date.
- National Data Repository has now resolved the issue by providing the required data.
How will the policy function?
- Open Acreage License Policy(OALP), a part of the government’s Hydrocarbons Exploration and Licensing Policy(HELP), is allowing exploration companies to select their operation blocks.
- Such option has saved companies time from the formal bid round the government.
- The company just need to submit an application to the government, which puts the block up for bid.
- With this new model, frequent bidding will be possible.
- It will help reducing import dependence and achieving India’s quest for energy security.
Ministry of Petroleum of Natural Gas (MoPNG) announced Discovered Small Field (DSF) Bid Round 2016 on 25thMay 2016, offering 46 contract areas across 9 sedimentary basins, for development. The technical bid documents were opened on 21stNovember at DGH’s Noida office in the presence of the all the bidders. The evaluation of the bids would be undertaken … Continue reading “Discovered Small Field Bid”
OALP gives an option to a company looking for exploring hydrocarbons to select the exploration blocks on its own, without waiting for the formal bid round from the Government. Under OALP, a bidder intending to explore hydrocarbons like oil and gas, coal bed methane, gas hydrate etc., may apply to the Government seeking exploration of … Continue reading “Open Acreage License Policy”
The main objective is to setup National Data Repository of reliable exploration and production data for India with provisions for seamless access and on-line data management. Specific goals are: To validate, store, maintain and reproduce high quality and reliable geoscientific data To facilitate efficient data reporting, data exchange, and data trading among existing players including … Continue reading “National Data Repository”