{"id":264977,"date":"2023-10-18T19:43:38","date_gmt":"2023-10-18T14:13:38","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=264977"},"modified":"2023-10-18T19:43:38","modified_gmt":"2023-10-18T14:13:38","slug":"govt-offers-8-blocks-for-production-of-hydrocarbons-under-olap-bid","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/govt-offers-8-blocks-for-production-of-hydrocarbons-under-olap-bid\/","title":{"rendered":"Govt offers 8 blocks for production of hydrocarbons under OLAP bid"},"content":{"rendered":"\n

Source: <\/b>The post is based on the article <\/span>\u201cGovt offers 8 blocks for production of hydrocarbons under OLAP bid\u201d<\/b> published in <\/span>\u201cHindu Businessline\u201d on 18th October 2023<\/b><\/p>\n

What is the News?<\/b><\/h2>\n

The Ministry of Petroleum & Natural Gas (MoPNG) has offered 8 blocks for exploration and production (E&P) of hydrocarbons under the Open Acreage Licensing Policy (OALP).<\/span><\/p>\n

What is O<\/b>pen Acreage Licensing Policy(OALP)?<\/b><\/h2>\n

O<\/span>pen Acreage Licensing Policy(OALP) is a part of the Hydrocarbon Exploration and Licensing Policy(HELP).<\/span><\/p>\n

It was introduced by the government in 2016 and became operational from 2017.<\/span><\/p>\n

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.<\/span><\/p>\n

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.<\/span><\/p>\n

The Government will examine the interest and if it is suitable for award, then the govt will call for competitive bids after obtaining necessary environmental and other clearances.<\/span><\/p>\n

What is <\/b>Hydrocarbon Exploration and Licensing Policy(HELP)?<\/b><\/h2>\n

Hydrocarbon Exploration and Licensing Policy(HELP) was adopted in 2016.<\/span><\/p>\n

It replaced the New Exploration Licensing Policy (NELP).\u00a0<\/span><\/p>\n

The objective of the policy is to enhance domestic oil and gas production by intensifying exploration activity and investment.<\/span><\/p>\n

Components of the policy<\/b>:<\/span><\/p>\n

\u2013 <\/span>Uniform license for exploration and production of all forms of hydrocarbon<\/b><\/p>\n

\u2013 <\/span>Open acreage policy<\/b><\/p>\n

\u2013 <\/span>Revenue sharing model: <\/b>This encourages cost efficiency in mining operations by replacing the profit-sharing contract established by NELP.The contractor pays the government a share of its revenue (net of royalty) as per the contract<\/span>.<\/span><\/p>\n

\u2013 <\/span>Marketing and pricing freedom:<\/b> The contractor is free to sell crude oil in the domestic market through a transparent bidding process.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cGovt offers 8 blocks for production of hydrocarbons under OLAP bid\u201d published in \u201cHindu Businessline\u201d on 18th October 2023 What is the News? The Ministry of Petroleum & Natural Gas (MoPNG) has offered 8 blocks for exploration and production (E&P) of hydrocarbons under the Open Acreage Licensing… Continue reading Govt offers 8 blocks for production of hydrocarbons under OLAP bid<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,956,1],"tags":[11872,10720],"class_list":["post-264977","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-schemes-and-programs","category-uncategorized","tag-9pm-daily-factly","tag-hindu-businessline","entry"],"jetpack_featured_media_url":"","views":{"total":58,"cached_at":"","cached_date":1698207716},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/264977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=264977"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/264977\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=264977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=264977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=264977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}