Open Acreage Licensing Programme (OALP)

Open Acreage Licensing Programme (OALP):

 

Ministry of Petroleum and Natural Gas launches Open Acreage Licensing Programme Bid Round-VIII

  • Open Acreage Licensing Policy (OALP) along with the National Data Repository (NDR) was launched in June 2017 as the key driver to accelerate the Exploration and Production (E&P) activities in India.
  • Under OALP, companies are given the freedom to carve out areas they want to explore oil and gas. The areas sought are then put on auction.
  • The successful roll-out of the HELP regime, followed by OALP Bid Rounds, has led to an increase in exploration acreages in India.
  • HELP which replaced the erstwhile New Exploration Licensing Policy (NELP) in 2016. Under it:-
    • Exploration blocks shall be awarded on a continuous basis through e-bidding in a transparent manner.
    • It followed the Revenue sharing modelinstead of Profit-sharing for hydrocarbon exploration.
    • Unified license for all types of hydrocarbons.
    • Freedom to carve out acreages of choice under OALP bid rounds.
    • Full marketing and pricing freedom of gas.

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