What is Open Acreage Licensing policy?

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What is Open Acreage Licensing policy?

Under HELP, Open Acreage Licensing (OALP) mechanism has been launched which allows the investors to carve out blocks of their choice by assessing E&P data available at NDR & by submitting an Expression of Interest (EoI).

What is OLAP policy?

The objective of OLAP is to increase India’s indigenous oil and gas production by maximising the potential of already discovered hydrocarbon resources in the country. It is departure from the current licensing policy of government identifying the oil and gas blocks and then putting them on auction.

How many blocks have been awarded by the Government under OALP Bid Round II& III?

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The Government had launched OALP Bid Rounds-II and III on 07th January, 2019 and 10th February, 2019 respectively. While Bid Round–II offered 14 Blocks (covering total area of approx. 30,000 sq. km.), the Bid Round-III offered 23 blocks including 5 CBM blocks (covering total area of approx.

What is the full form of NELP?

New Exploration Licensing Policy (NELP) is a policy adopted by Government of India in 1997 indicating the new contractual and fiscal model for award of hydrocarbon acreages towards exploration and production (E&P).

What is open acreage licensing policy Upsc?

Under OALP, companies are allowed to carve out areas they want to explore oil and gas in. Companies can put in an expression of interest (EOI) for any area throughout the year but such interests are accumulated thrice in a year. The areas sought are then offered for bidding.

What discovered small field?

For early monetization of unmonetized discoveries of National Oil Companies (NoCs), Government in September, 2015 approved 69 marginal fields/discoveries for offer under Discovered Small Fields Policy. These Contract Areas are awarded under the new regime of Revenue Sharing Model.

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What is OLAP in oil and gas?

The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP), bids for which closed on June 30.

What is oil and gas window?

This depth interval is known as the oil window. When the source rock sinks further, to between 3,800 and 5,000 meters, production of liquid hydrocarbons peaks. Hydrocarbons are the principal constituents of crude oil, natural gas and petroleum products. . This depth interval is known as the gas window.

What is the aim of the India Hydrocarbon Vision 2025?

The India Hydrocarbon Vision 2025 of the Government identifies natural gas as the preferred fuel for the future and several options are being explored to increase its supply capacity including building facilities to handle imports of liquefied natural gas (LNG) and setting up of pipelines from major gas producing …

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What is DSF block?

The third round of auctions under the Discovered Small Fields (DSF) regime for oil and gas blocks was launched on Thursday. These oil and gas discoveries were once made by public sector undertaking oil companies, Oil and Natural Gas Corporation (ONGC) and Oil India (OIL).