Q. With reference to Open Acreage Licensing Policy (OALP) consider the following statements:
1.It is a part of the Hydrocarbon Exploration and Licensing Policy (HELP).
2.OALP gives a company an option to select the exploration blocks on its own without waiting for the formal bid round from the Government.
3.Under OALP, a bidder intending to explore hydrocarbons may apply to the Government seeking exploration of any new block which was not already covered by exploration..
How many of the above statements are correct?
Answer: C
Notes:
Explanation –
Statements 1, 2 and 3 are correct. OALP is a part of the Hydrocarbon Exploration and Licensing Policy (HELP). It was introduced by the government in 2016 and became operational from 2017. OALP gives an option to a company 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 may apply to the Government seeking exploration of any new block which was not already covered by exploration.
Source: ForumIAS
