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OEF Rapid Review Articles

India, the world’s third-largest oil consumer, will conduct auctions of oil and gas blocks under the Open Acreage Licensing Policy twice a year with the first round being held in July. OALP will differ from the current licensing policy whereby the government identifies the oil and gas blocks and then puts them on auction. This policy gives an option to a company looking for exploring hydrocarbons to select the exploration areas on its own, based on the seismic and well data that the Directorate-General of Hydrocarbons has put in in a National Data Repository.
LINK TO THE SOURCE ARTICLE:
India’s First Major Exploration Licensing Round In July

 

 

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