Upto 60% Off on UPSC Online Courses

Avail Now
  »   Current Affairs   »   Open Acreage Licensing Policy (OALP)

Open Acreage Licensing Policy (OALP)

October 9, 2023

GS Paper III Indian Economy

Context:

  • The government is expected to open the ninth round of bidding under the Open Acreage Licensing Policy.

What is Open Acreage Licensing Policy?

  • Open Acreage Licensing Policy (OALP) is a policy reform introduced by the Government of India (GoI) to provide relief to hydrocarbon companies. 
  • Under it the company can undertake prospecting for fuels in areas the GoI does not notify.
    • Prospecting refers to drilling the selected area to check the availability of hydrocarbon fuels. 
  • The OALP is used by companies engaged in extracting hydrocarbon fuels to locate new areas where hydrocarbon fuels can be obtained. 
  • Under the Open Acreage Licensing Policy, 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 put on auction.
  • It is part of the Hydrocarbon Exploration and Licensing Policy.
Hydrocarbon Exploration and Licensing Policy (HELP) 

  • HELP is an exploration and production policy of the Government of India that replaced the New Exploration Licensing Policy (NELP). 
  • Objective: To enhance domestic oil and gas production by intensifying exploration activity and investment. 
  • Four Components of HELP;
    • Uniform license for exploration and production of all forms of hydrocarbon: This streamlines licensing, as the government requires only a single uniform license for all forms of hydrocarbons, which includes gas from coal mining. 
    • Open acreage licensing policy: Through this, an explorer can study and bid for any block in accordance with its competitive advantage.
    • Revenue sharing model: 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.
    • Marketing and pricing freedom: The contractor can sell crude oil in the domestic market through a transparent bidding process. 


News Source: Business Standard

 

Print Friendly, PDF & Email

To get PDF version, Please click on "Print PDF" button.

Print Friendly, PDF & Email

Recent Editorial

UNION BUDGET 2024-25

The Issues With State-Sponsored Street Art

How children win with U-WIN, Govt’s new online v...

Benefits Of The Domestic Silk Route

Cops Can’t Force, Supreme Court Pauses Kanwa...

From Madhya Rekha to Sindhu-Sarasvati: Major shift...

Popular current affairs

News in Shorts: 24 July 2024

Climate Finance Taxonomy

Budget 2024–25: Unemployment

Supreme Court Split Verdict on GM Mustard Approval

Corridor Projects Announced for Bihar’s Vishnupa...

Webb Telescope On Cosmic Brown Dwarfs

Our Courses

Our Courses

Need help preparing for UPSC or State PSCs?

Connect with our experts to get free counselling & start preparing

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

# #
      
Subscribe our Newsletter
Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
*Promise! We won't spam you.
Yes! I want to Subscribe.

Contact Details

G-Floor,4-B Pusha Road, New Delhi, 110060

Download Our App

# #

 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key

THE MOST
LEARNING PLATFORM

Learn From India's Best Faculty

# #
      
Follow Us:
Subscribe our Newsletter
Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
*Promise! We won't spam you.
Yes! I want to Subscribe.

Contact Details

Download Our App

# #

 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key
Quick Revise Now !
AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

<div class="new-fform">







    </div>

    Subscribe our Newsletter
    Sign up now for our exclusive newsletter and be the first to know about our latest Initiatives, Quality Content, and much more.
    *Promise! We won't spam you.
    Yes! I want to Subscribe.