Consider the following statements about the Hydrocarbon Exploration and Licensing Policy (HELP):

  1. It is based on revenue sharing model 
  2. The policy aims at providing uniform license for exploration and production of all forms of hydrocarbon

 Which of the above statements is/are correct?

Answer: [C] Both 1 & 2

Both are correct statements.
Hydrocarbon Exploration and Licensing Policy (HELP) aims to provide for a uniform licensing system and to provide single licensing to cover all hydrocarbons such as oil, gas, coal bed methane etc. . It is based on revenue sharing model in contrast to earlier profit sharing models ike NELP.

This question is a part of GKToday's Integrated IAS General Studies Module